[***][Cognizance of offences by courts.22.(1) No court shall take cognizance of any offence punishable under this Act or any rules or regulations or bye-laws made thereunder, save on a complaint made by the Central Government or State Government or the Securities and Exchange Board of India or by any person.
(2) [***]
32. Words and letters "CHAPTER VI-MISCELLANEOUS" omitted by the Finance Act, 2018, w.e.f. 8-3-2019.
33. Substituted for section 22 by the Securities Laws (Amendment) Act, 2004, w.e.f. 12-10-2004. Prior to its substitution, section 22 read as under:-
"22. Cognizance of offences by courts.-(1) No Court shall take cognizance of any offence punishable under this Act or any regulations or bye-laws made thereunder, save on a complaint made by the Board.(2) No court inferior to that of a Metropolitan Magistrate or a judicial Magistrate of the first class shall try any offence punishable under this Act."
34. Sub-section (2) omitted by the Securities Laws (Amendment) Act, 2014, w.r.e.f. 18-7-2013. Prior to its omission, said sub-section read as under :"(2) No court inferior to that of a Court of Session shall try any offence punishable under this Act."
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