CHAPTER V[MISCELLANEOUS][Offences.20. (1) Without prejudice to any award of penalty by the adjudicating officer [or the Board] under this Act, if any person contravenes or attempts to contravene or abets the contravention of the provisions of this Act or of any rules or regulations or bye-laws made thereunder, he shall be punishable with imprisonment for a term which may extend to ten years, or with fine, which may extend to twenty-five crore rupees, or with both.(2) If any person fails to pay the penalty imposed by the [adjudicating officer or the Board or fails to comply with any] directions or orders, he shall be punishable with imprisonment for a term which shall not be less than one month but which may extend to ten years, or with fine, which may extend to twenty-five crore rupees, or with both.]
24. Substituted for "PENALTY" by the Finance Act, 2018, w.e.f. 8-3-2019.
25. Substituted by the Securities Laws (Amendment) Act, 2004, w.e.f. 12-10-2004. Prior to its substitution, section 20 read as under:-
"20. Offences.-Whoever contravenes or attempts to contravene or abets the contravention of the provisions of this Act or any regulations or bye-laws made thereunder shall be punishable with imprisonment for a term which may extend to five years, or with fine or with both."
26. Inserted by the Finance Act, 2018, w.e.f. 8-3-2019.
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