Regulation 21 - Liability for Action in case of default. - Securities And Exchange Board of India (Foreign Institutional Investors) Regulations, 1995

CHAPTER V PROCEDURE FOR ACTION IN CASE OF DEFAULT 1 [Liability for Action in case of default. 21. A Foreign Institutional Investor who contravenes any of the provisions of the Act, rules or regulations framed thereunder shall be liable for one or more actions specified therein including the action under Chapter V of the SEBI (Intermediaries) Regulations, 2008] -------------------- Notes:- 1. Substituted by the SEBI (Intermediaries) Regulations, 2008 w.e.f. 26-5-2008. Prior to its substitution, regulation as substituted by the SEBI (Procedure for Holding Enquiry by Enquiry officer and Imposing penalty) Regulations, 2002, w.e.f. 27-9-2002, read as under: A Foreign Institutional Investor who - (a) fails to comply with any condition subject to which certificate has been granted; (b) contravenes any of the provisions of the Act, rules or regulations, shall be dealt with in the manner provided under the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002.