Section 22 - Cognizance of offences by courts - Depositories Act, 1996

3 [******] 1 [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 [****]] ************** 1 Substituted by the Securities Laws (Amendment) Act, 2004, Sec. 19, 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. 2 Omitted by the Securities Laws (Amendment) Act, 2014, w.e.f. 18-07-2013. Prior to omission, sub- section (2) read as No court inferior to that of a Court of Session shall try any offence punishable under this Act. 3 Omitted vide Securities Laws(Amendment) Act, 2014, w.r.e.f. 18-07-2013 before it was read as CHAPTER VI MISCELLANEOUS