Regulation 15 - Settlement of proceedings before the Adjudicating officer and the Board - Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) Regulations, 2014

CHAPTER VII SETTLEMENT ORDERS Settlement of proceedings before the Adjudicating officer and the Board. 15. (1)The adjudicating officer shall pass the settlement order in the proceeding pending before him with respect to the alleged default(s). (2)The panel of the whole time members shall pass settlement order with respect to proceedings initiated or proposed to be initiated for alleged default(s) other than the proceedings referred to in sub-regulation (1). (3) The settlement order passed under these regulations shall, inter alia, contain the details of the alleged default(s), relevant provisions of the securities laws, facts and circumstances relevant to the alleged default, the admissions made by the applicant, if any and the settlement terms.