Cognizance of offences by Courts.26. (1) No court shall take cognizance of any offence punishable under this Act or any rules or regulations made thereunder, save on a complaint made by the Board [* * *]. (2) [***].
1. Words "with the previous sanction of the Central Government" omitted by the Securities Laws (Amendment) Act, 1995, w.e.f. 25-1-1995.
2. Sub-section (2) omitted by the by the Securities Laws (Amendment) Act, 2014, w.r.e.f. 18-7-2013. Prior to its omission, said sub-section (2) as amended by the SEBI (Amendment) Act, 2002, w.e.f. 29-10-2002, 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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