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Securities Contracts (Regulation) Act, 1956

Securities Contracts (Regulation) Act, 1956

Section - 26 - Cognizance of offences by courts

[Cognizance of offences by courts.

26. (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 a recognised stock exchange or by any person.

(2) [***]]

77. Substituted by the Securities Laws (Amendment) Act, 2004, w.e.f. 12-10-2004. Prior to its substitution section 26 read as under :

"26. Jurisdiction to try offences under this Act.-No court inferior to that of a presidency magistrate or a magistrate of the first class shall take cognizance of or try any offence punishable under this Act."

78. Omitted by the Securities Laws (Amendment) Act, 2014, w.r.e.f. 18-7-2013. Prior to its omission, sub-section (2) read as under :

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