SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES 1[***]) RULES, 1… — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES 1[***]) RULES, 1995 In exercise of the powers conferred by 2 [ clause (da) and clause (f) of sub-section (2) of section 29 ] of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Central Government hereby makes the following rules for holding inquiry for the purpose of imposing penalty under Chapter VI-A of the said Act, namely :— Short title and commencement. (1) These rules may be called the Securities and Exchange Board of India (Procedure for Holding Inquiry and Imposing Penalties 3 [ *** ]) Rules, 1995. They shall come into force on the date of their publication in the Official Gazette. Definition. In these rules, unless the context otherwise requires,— (a) "Act" means the Securities and Exchange Board of India Act, 1992 (15 of 1992) ; (b) "adjudicating officer", means the officer appointed by the Board as adjudicating officer under [section 15I] 4 of the Act ; (c) "inquiry" means the inquiry referred in 5 [sub -section (4A) of section 11 or sub-section (2) of section 11B or section 15-I of the Act] . Appointment of adjudicating officer for holding inquiry. Whenever the Board is of the opinion that there are grounds for adjudging under any of the provisions in Chapter VI-A of the Act, it may appoint any of its officers not below the rank of Division Chief to be an adjudicating officer for holding an inquiry for the said purpose. Holding of inquiry. (1) In holding an inquiry for the purpose of adjudging under sections 15A, 15B, 15C, 15D, 15E, 6 [15EA, 15EB,] 15F, 15G 7 [, 15HA and 15HB] whether any person has committed contraventions as specified in any of sections 15A, 15B, 15C, 15D, 15E, 8 [15EA, 15EB , ] 15F, 15G 9 [, 15HA and 15HB] 1 Words "by Adjudic