SECURITIES CONTRACTS (REGULATION) (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES 1 [ *** ]) RULES, 2005 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

SECURITIES CONTRACTS (REGULATION) (PROCEDURE FOR HOLDING INQUIRY AND IMPOSING PENALTIES 1 [ *** ]) RULES, 2005 In exercise of the powers conferred by 2 [clause (hd) and clause (i) of sub-section (2) of section 30] of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Central Government hereby makes the following rules for holding inquiry for the purpose of imposing penalty under sections 23A, 23B, 23C, 23D, 23E, 23F, 23G 3 [, 23GA] and 23H of the Act, namely :— Short title and commencement (1) These rules may be called the Securities Contracts (Regulation) (Procedure for Holding Inquiry and Imposing Penalties 4 [ *** ]) Rules, 2005. They shall come into force on the date of their publication in the Official Gazette. Definitions (1) In these rules, unless the context otherwise requires,— (a) "Act" means the Securities Contracts (Regulation) Act, 1956 (42 of 1956); (b) "adjudicating officer" means the officer appointed by the Securities and Exchange Board of India as adjudicating officer under section 23-I of the Act; (c) "inquiry" means the inquiry referred in 5 [sub -section (2) of section 12A or section 23I of the Act] . Words and expressions used herein and not defined in these rules but defined in the Securities Contracts (Regulation) Act, 1956 shall have the same meanings respectively assigned to them under that Act. Appointment of adjudicating officer for holding inquiry Whenever the Securities and Exchange Board of India is of the opinion that there are grounds for adjudging under sections 23A, 23B, 23C, 23D, 23E, 23F, 23G and 23H of the Act, it may appoint any of its officer 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