23. Penalties.—(1) Any person who—
(a) without reasonable excuse (the burden of proving which shall be on him) fails to comply with
any requisition made under sub-section (4) of section 6; or
(b) enters into any contract in contravention of any of the provisions contained in section 13 or
section 16; or
(c) contravenes the provisions contained in 1
[section 17 or section 17A], or section 19; or
1. Subs. by Act 27 of 2007, s. 4, for “section 17” (w.e.f. 28-5-2007).
21
1
[(d) enters into any contract in derivative in contravention of section 18A or the rules made
under section 30.]
(e) owns or keeps a place other than that of a recognised stock exchange which is used for the
purpose of entering into or performing any contracts in contravention of any of the provisions of this
Act and knowingly permits such place to be used for such purposes; or
(f) manages, controls, or assists in keeping any place other than that of a recognised stock
exchange which is used for the purpose of entering into or performing any contracts in contravention
of any of the provisions of this Act or at which contracts are recorded or adjusted or rights or
liabilities arising out of contracts are adjusted, regulated or enforced in any manner whatsoever; or
(g) not being a member of a recognised stock exchange or his agent authorised as such under the
rules or bye-laws of such stock exchange or not being a dealer in securities licensed under section 17
wilfully represents to or induces any person to believe that contracts can be entered into or performed
under this Act through him; or
(h) not being a member of a recognised stock exchange or his agent authorised as such under the
rules or bye-laws of such stock exchange or not being a dealer in securities licensed under section 17,
canvasses, advertises or touts in any manner either for himself or on behalf of any other persons for
any business connected with contracts in contravention of any of the provisions of this Act; or
(i) joins, gathers or assists in gathering at any place other than the place of business specified in
the bye-laws of a recognised stock exchange any person or persons for making bids or offers or for
entering into or performing any contracts in contravention of any of the provisions of this Act;
2
[shall, without prejudice to any award of penalty by the Adjudicating Officer 3
[or the Securities and
Exchange Board of India] under this Act, on conviction, be punishable with imprisonment for a term
which may extend to ten years or with fine, which may extend to twenty-five crore rupees or with both]
(2) Any person who enters into any contract in contravention of the provisions contained in section
154
[or who fails to comply with the provisions of5
[section 21 or section 21A] or with the orders of] or
who or section 226
[or with the orders of the Securities Appellate Tribunal] shall, on conviction, be
punishable with fine which may extend to one thousand rupees.
7
[23A. Penalty for failure to furnish information, return, etc.—Any person, who is required under
this Act or any rules made thereunder,—
(a) to furnish any information, document, books, returns or 8
[report to a recognised stock
exchange or to the Board, fails to furnish the same within the time specified therefor in the listing
agreement or conditions or bye-laws of the recognised stock exchange or the Act or rules made
thereunder, or who furnishes] 9
[false, incorrect or incomplete information, document, books, return or
report], shall be liable to a penalty 10[which shall not be less than one lakh rupees but which may
extend to one lakh rupees for each during which such failure continues subject to a maximum of one
crore rupees], whichever is less for each such failure;
(b) to maintain books of account or records, as per the listing agreement or conditions, or byelaws of a recognised stock exchange, fails to maintain the same, shall be liable to a penalty 7
[which
shall not be less than one lakh rupees but which may extend to one lakh rupees for each day during
which such failure continues subject to a maximum of one crore rupees].]
1. Ins. by Act 31 of 1999, s. 6 (w.e.f. 22-2-2000).
2. Subs. by Act 1 of 2005, s. 21, for certain words (w.e.f. 12-10-2004).
3. Ins. by Act 13 of 2018, s. 148 (w.e.f. 8-3-2019).
4. Subs. by Act 9 of 1995, s. 24, for “or who fails to comply with the orders of the Securities and Exchange Board of India under
section 21” (w.e.f. 25-1-1995).
5. Subs. by Act 1 of 2005, s. 10, for “section 21” (w.e.f. 12-10-2004).
6. Ins. by Act 32 of 1999, s. 6 (w.e.f. 16-10-1999).
7. Ins. by Act 1 of 2005, s. 11 (w.e.f. 12-10-2004).
8. Subs. by Act 23 of 2019, s. 146, for certain words (w.e.f. 20-1-2020).
9. Ins. by Act 13 of 2018, s. 149 (w.e.f. 8-3-2019).
10. Subs. by Act 27 of 2014, s. 25, for “of one lakh rupees for each day during which such failure continues or one crore rupees,
whichever is less” (w.e.f. 8-9-2014)
22
23B. Penalty for failure by any person to enter into an agreement with clients.—If any person,
who is required under this Act or any bye-laws of a recognised stock exchange made thereunder, to enter
into an agreement with his client, fails to enter into such an agreement, he shall be liable to a
penalty 1
[which shall not be less than one lakh rupees but which may extend to one lakh rupees for each
day during which such failure continues subject to a maximum of one crorerupees] for every such failure.
23C. Penalty for failure to redress Investors grievances.—If any stock broker or sub-broker or a
company whose securities are listed or proposed to be listed in a recognised stock exchange, after having
been called upon by the Securities and Exchange Board of India or a recognised stock exchange in
writing, to redress the grievances of the investors, fails to redress such grievances within the time
stipulated by the Securities and Exchange Board of India or a recognised stock exchange, he or it shall be
liable to a penalty 2
[which shall not be less than one lakh rupees but which may extend to one lakh rupees
for each day during which such failure continues subject to a maximum of one crore rupees].]
23D. Penalty for failure to segregate securities or moneys of client or clients.—If any person, who
is registered under section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) as a
stock broker or sub-broker, fails to segregate securities or moneys of the client or clients or uses the
securities or moneys of a client or clients for self or for any other client, he shall be 3
[liable to a penalty
which shall not be less than one lakh rupees but which may extend to one crore rupees].
23E. Penalty for failure to comply with of listing conditions or delisting conditions or
grounds.—If a company or any person managing collective investment scheme or mutual fund4
[or real
estate investment trust or infrastructure investment trust or alternative investment fund], fails to comply
with the listing conditions or delisting conditions or grounds or commits a breach thereof, it or he shall
be 5
[liable to a penalty which shall not be less than five lakh rupees but which may extend to twenty-five
crore rupees].
23F. Penalty for excess dematerialisation or delivery of unlisted securities.—If any issuer
dematerialises securities more than the issued securities of a company or delivers in the stock exchanges
the securities which are not listed in the recognised stock exchange or delivers securities where no trading
permission has been given by the recognised stock exchange, he shall be 6
[liable to a penalty which shall
not be less than five lakh rupees but which may extend to twenty-five crore rupees].
23G. Penalty for failure to furnish periodical returns, etc.—If a recognised stock exchange fails or
neglects to furnish periodical returns 7
[or furnishes false, incorrect or incomplete periodical returns] to the
Securities and Exchange Board of India or fails or neglects to make or amend its rules or bye-laws as
directed by the Securities and Exchange Board of India or fails to comply with directions issued by the
Securities and Exchange Board of India, such recognised stock exchange shall be 8
[liable to a penalty
which shall not be less than five lakh rupees but which may extend to twenty-five crore rupees].
9
[23GA. Penalty for failure to conduct business in accordance with rules, etc.—Where astock
exchange or a clearing corporation fails to conduct its business with its members or any issuer or its agent
or any person associated with the securities markets in accordance with the rules or regulations mad by
the Securities and Exchange Board of India and the directions issued by it under this Act, the stock
exchange or the clearing corporations, as the case may be, shall be liable to penalty which shall not be
less than five crore rupees but which may extend to twenty-five crore rupees or three times the amount of
gains made out of such failure, whichever is higher.]
1. Subs. by Act 27 of 2014, s. 26, for “of one lakh rupees for each day during which such failure continues or one crore rupees,
whichever is less” (w.e.f. 8-9-2014).
2. Subs. by s. 27, ibid.,for “of one lakh rupees for each day during which such failure continues or one crore rupees, whichever is
less” (w.e.f. 8-9-2014).
3. Subs. by s. 28, ibid., for “liable to a penalty not exceeding one crore rupees” (w.e.f. 8-9-2014).
4. Ins. by Act 13 of 2018, s. 150 (w.e.f. 8-3-2019).
5. Subs. by Act 27 of 2014, s. 29, for “liable to a penalty not exceeding twenty-five crore rupees” (w.e.f. 8-9-2014).
6. Subs. by s. 30, ibid., for “liable to a penalty not exceeding twenty-five crore rupees” (w.e.f. 8-9-2014).
7. Ins. by Act 13 of 2019, s. 151 (w.e.f. 8-3-2019).
8. Subs. by Act 27 of 2014, s. 31, for “liable to a penalty not exceeding twenty-five crore rupees” (w.ef. 8-9-2014).
9. Ins. by Act 13 of 2018, s. 152 (w.e.f. 8-3-2019).
23
23H. Penalty for contravention where no separate penalty has been provided.—Whoever fails to
comply with any provision of this Act, the rules or articles or bye-laws or the regulations of the
recognised stock exchange or directions issued by the Securities and Exchange Board of India for which
no separate penalty has been provided, shall be 1
[liable to a penalty which shall not be less than one lakh
rupees but which may extend to one crore rupees].
23-I. Power to adjudicate.—(1) For the purpose of adjudging under sections 23A, 23B, 23C, 23D,
23E, 23F, 23G and 23H, the Securities and Exchange Board of India 2
[may] appoint any officer not below
the rank of a Division Chief of the Securities and Exchange Board of India to be an adjudicating officer
for holding an inquiry in the prescribed manner after giving any person concerned a reasonable
opportunity of being heard for the purpose of imposing any penalty.
(2) While holding an inquiry, the adjudicating officer shall have power to summon and enforce the
attendance of any person acquainted with the facts and circumstances of the case to give evidence or to
produce any document, which in the opinion of the adjudicating officer, may be useful for or relevant to
the subject-matter of the inquiry and if, on such inquiry, he is satisfied that the person has failed to
comply with the provisions of any of the sections specified in sub-section (1), he may impose such
penalty as he thinks fit in accordance with the provisions of any of those sections.
3
[(3) The Board may call for and examine the record of any proceedings under this section and if it
considers that the order passed by the adjudicating officer is erroneous to the extent it is not in the
interests of the securities market, it may, after making or causing to be made such inquiry as it deems
necessary, pass an order enhancing the quantum of penalty, if the circumstances of the case so justify:
Provided that no such order shall be passed unless the person concerned has been given an
opportunity of being heard in the matter:
Provided further that nothing contained in this sub-section shall be applicable after an expiry of a
period of three months from the date of the order passed by the adjudicating officer or disposal of the
appeal under section 23L, whichever is earlier.]
23J. 4
[Factors to be taken into account while adjudging quantum of penalty.]—While adjudging
the quantum of penalty under 5
[section 12A or section 23-I],
6
[the Securities and Exchange Board of India
or the adjudicating officer] shall have due regard to the following factors, namely:—
(a) the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a
result of the default;
(b) the amount of loss caused to an investor or group of investors as a result of the default;
(c) the repetitive nature of the default.
7
[23JA. Settlement of administrative and civil proceedings.—(1) Notwithstanding anything
contained in any other law for the time being in force, any person, against whom any proceedings have
been initiated or may be initiated under section 12A or section 23-1, may file an application in writing to
the Board proposing for settlement of the proceedings initiated or to be initiated for the alleged defaults.
(2) The Board may, after taking into consideration the nature, gravity and impact of defaults, agree to
the proposal for settlement, on payment of such sum by the defaulter or on such other terms as may be
determined by the Board in accordance with the regulations made under the Securities and Exchange
Board of India Act, 1992(15 of 1992).
(3) For the purposes of settlement under this section, the procedure as specified by the Board under
the Securities and Exchange Board of India Act, 1992(15 of 1992) shall apply.
1. Subs. byAct 27 of 2014, s. 32, for “liable to a penalty not exceeding twenty-five crorerupess” (w.e.f. 8-9-2014).
2. Subs. by Act 13 of 2019, s. 153, for “shall” (w.e.f. 8-3-2019).
3. Ins. byAct 27 of 2014, s. 33 (w.e.f. 8-9-2014).
4. Subs. by Act 13 of 2019, s. 154, for “Factors to be taken into account by adjudicating officer” (w.e.f. 8-3-2019).
5. Subs. by s. 154, ibid., for “section 23-I” (w.e.f. 8-3-2019).
6. Subs. by s. 154, ibid., for “the adjudicating officer” (w.e.f. 8-3-2019).
7. Ins. by s. 34, ibid. (w.e.f. 20-4-2007).
24
(4) No appeal shall lie under section 23L against any order passed by the Board or the adjudicating
officer, as the case may be, under this section.]
1
[(5) All settlement amounts, excluding the disgorgement amount and legal costs, realised under this
Act shall be credited to the Consolidated Fund of India.]
2
[23JB. Recovery of amounts.—(1) If a person fails to pay the penalty imposed 3
[under this Act] or
fails to comply with a direction of disgorgement order issued under section 12A or fails to pay any fees
due to the Board, the Recovery Officer may draw up under his signature a statement in the specified form
specifying the amount due from the person (such statement being hereafter in this Chapter referred to as
certificate) and shall proceed to recover from such person the amount specified in the certificate by one or
more of the following modes, namely:—
(a) attachment and sale of the person”s movable property;
(b) attachment of the person”s bank accounts;
(c) attachment and sale of the person”s immovable property;
(d) arrest of the person and his detention in prison;
(e) appointing a receiver for the management of the person”s movable and immovable properties,
and for this purpose, the provisions of sections 220 to 227, 228A, 229, 232, the Second and Third
Schedules to the Income-tax Act, 1961(43 of 1961) and the Income-tax (Certificate Proceedings)
Rules, 1962, as in force from time to time, in so far as may be, apply with necessary modifications as
if the said provisions and the rules thereunder were the provisions of this Act and referred to the
amount due under this Act instead of to income-tax under the Income-tax Act, 1961.
Explanation 1.—For the purposes of this sub-section, the person”s movable or immovable property or
monies held in bank accounts shall include any property or monies held in bank accounts which has been
transferred, directly or indirectly on or after the date when the amount specified in certificate had become
due, by the person to his spouse or minor child or son”s wife or son”s minor child, otherwise than for
adequate consideration, and which is held by, or stands in the name of, any of the persons aforesaid; and
so far as the movable or immovable property or monies held in bank accounts so transferred to his minor
child or his son”s minor child is concerned, it shall, even after the date of attainment of majority by such
minor child or son”s minor child, as the case may be, continue to be included in the person”s movable or
immovable property or monies held in bank accounts for recovering any amount due from the person
under this Act.
Explanation 2.—Any reference under the provisions of the Second and Third Schedules to the
Income-tax Act, 1961(43 of 1961) and the Income-tax (Certificate Proceedings) Rules, 1962 to the
assessee shall be construed as a reference to the person specified in the certificate.
Explanation 3.—Any reference to appeal in Chapter XVIID and the Second Schedule to the Incometax Act, 1961(43 of 1961), shall be construed as a reference to appeal before the Securities Appellate
Tribunal under section 23L of this Act.
(2) The Recovery Officer shall be empowered to seek the assistance of the local district
administration while exercising the powers under sub-section (1).
(3) Notwithstanding anything contained in any other law for the time being in force, the recovery of
amounts by a Recovery Officer under sub-section (7), pursuant to non-compliance with any direction
issued by the Board under section 12A, shall have precedence over any other claim against such person.
(4) For the purposes of sub-sections (1), (2) and (3), the expression "Recovery Officer" means any
officer of the Board who may be authorised, by general or special order in writing to exercise the powers
of a Recovery Officer.]
1. Ins. by Act 13 of 2019, s. 155 (w.e.f. 8-3-2019).
2. Ins. by Act 27 of 2014, s. 35. (w.e.f. 8-9-2014).
3. Subs. by Act 13 of 2018, s. 156, for “by the adjudicating officer” (w.e.f. 8-3-2019).
25
1
[23JC. Continuance of proceedings.—Where a person dies, his legal representative shall be liable
to pay any sum which the deceased would have been liable to pay, if he had not died, in the like manner
and to the same extent as the deceased:
Provided that, in case of any penalty payable under this Act, a legal representative shall be liable only
in case the penalty has been imposed before the death of the deceased person.
(2) For the purposes of sub-section (1),—
(a) any proceeding for disgorgement, refund or an action for recovery before the Recovery
Officer under this Act, except a proceeding for levy of penalty, initiated against the deceased before
his death shall be deemed to have been initiated against the legal representative, and may be
continued against the legal representative from the stage at which it stood on the date of the death of
the deceased and all the provisions of this act shall apply accordingly;
(b) any proceeding for disgorgement, refund or an action for recovery before the Recovery
Officer under this Act, except a proceeding for levy of penalty, which could have been initiated
against the deceased if he had survived, may be initiated against the legal representative and all the
provisions of this Act shall apply accordingly.
(3) Every legal representative shall be personally liable for any sum payable by him in his capacity as
legal representative if, while his liability for such sum remains undercharged, he creates a charge on or
disposes of or pasts with any assets of the estate of the deceased, which are in, or may come into, his
possession, but such liability shall be limited to the value of the asset so charged, disposed of or parted
with.
(4) The liability of a legal representative under this section shall, be limited to the extent to which the
estate of the decreased is capable of meeting the liability.
Explanation.—For the purpose of this section “Legal representative” means a person who in law
represents the estate of a deceased person, and includes any person who intermeddles with the estate of
the deceased and where a party sued or is sued in a representative character, the person on whom the
estate devolves on the death of the party so suing or sued.]
23K. Crediting sum realised by way of penalties to Consolidated Fund of India.—All sums
realised by way of penalties under this Act shall be credited to the Consolidated Fund of India.
23L. Appeal to Securities Appellate Tribunal.—(1) Any person aggrieved, by the order or decision
of the recognised stock exchange or the adjudicating officer or any order made by the Securities and
Exchange Board of India under section 4B 2
[or sub-section (3) of section 23-I], may prefer an appeal
before the Securities Appellate Tribunal and the provisions of sections 22B, 22C, 22D and 22E of this
Act, shall apply, as far as may be, to such appeals.
(2) Every appeal under sub-section (1) shall be filed within a period of forty-five days from the date
on which a copy of the order or decision is received by the appellant and it shall be in such form and be
accompanied by such fee as may be prescribed:
Provided that the Securities Appellate Tribunal may entertain an appeal after the expiry of the said
period of forty-five days if it is satisfied that there was sufficient cause for not filing it within that period.
(3) On receipt of an appeal under sub-section (1), the Securities Appellate Tribunal may, after giving
the parties to the appeal, an opportunity of being heard, pass such orders thereon as it thinks fit,
confirming, modifying or setting aside the order appealed against.
(4) The Securities Appellate Tribunal shall send a copy of every order made by it to the parties to the
appeal and to the concerned adjudicating officer.
(5) The appeal filed before the Securities Appellate Tribunal under sub-section (1) shall be dealt with
by it as expeditiously as possible and endeavour shall be made by it to dispose of the appeal finally within
six months from the date of receipt of the appeal.
1. Ins. by Act 13 of 2018, s. 157 (w.e.f. 8-3-2019).
2. Ins. by Act 27 of 2014, s. 36 (w.e.f. 8-9-2014).
26
23M. Offences.—(1) Without prejudice to any award of penalty by the adjudicating officer1
[or the
Securities and Exchange Board of India] under this Act, if any person contravenes or attempts to
contravene or abets the contravention of the provisions of this Act or of any rules or regulations or byelaws made thereunder, for which no punishment is provided elsewhere in this Act, he shall be punishable
with imprisonment for a term which may extend to ten years, or with fine, which may extend to twentyfive crore rupees or with both.
(2) If any person fails to pay the penalty imposed by the adjudicating officer1
[or the Securities and
Exchange Board of India] or fails to comply with 2
[the direction or order], he shall be punishable with
imprisonment for a term which shall not be less than one month but which may extend to ten years, or
with fine, which may extend to twenty-five crore rupees, or with both.
23N. Composition of certain offences.—Notwithstanding anything contained in the Code of
Criminal Procedure, 1973 (2 of 1974), any offence punishable under this Act, not being an offence
punishable with imprisonment only, or with imprisonment and also with fine, may either before or after
the institution of any proceeding, be compounded by a Securities Appellate Tribunal or a court before
which such proceedings are pending.
23-O. Power to grant immunity.—(1) The Central Government may, on recommendation by the
Securities and Exchange Board of India, if the Central Government is satisfied, that any person, who is
alleged to have violated any of the provisions of this Act or the rules or the regulations made thereunder,
has made a full and true disclosure in respect of alleged violation, grant to such person, subject to such
conditions as it may think fit to impose, immunity from prosecution for any offence under this Act, or the
rules or the regulations made thereunder or also from the imposition of any penalty under this Act with
respect to the alleged violation:
Provided that no such immunity shall be granted by the Central Government in cases where the
proceedings for the prosecution for any such offence have been instituted before the date of receipt of
application for grant of such immunity:
Provided futher that the recommendations of the Securities and Exchange Board of India under this
sub-section shall not be binding upon the Central Government.
(2) An immunity granted to a person under sub-section (1) may, at any time, be withdrawn by the
Central Government, if it is satisfied that such person had, in the course of the proceedings, not complied
with the condition on which the immunity was granted or had given false evidence, and thereupon such
person may be tried for the offence with respect to which the immunity was granted or for any other
offence of which he appears to have been guilty in connection with the contravention and shall also
become liable to the imposition of any penalty under this Act to which such person would have been
liable, had not such immunity been granted.]
24. 3
[Contravention by companies].—(1) Where 4
[a contravention of any of the provisions of this
Act or any rule, regulations, direction or order made thereunder] has been committed by a company,
every person who, at the time when the offence was committed, was in charge of, and was responsible to,
the company for the conduct of the business of the company, as well as the company, shall be deemed to
be guilty of the offence, and shall be liable to be proceeded against and punished accordingly:
Provided that nothing contained in this sub-section shall render any such person liable to any
punishment provided in this Act, if he proves that the offence was committed without his knowledge or
that he exercised all due diligence to prevent the commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), where 5
[a contravention of any of the
provisions of this Act or any rule, regulation, direction or order made thereunder] has been committed by
a company and is proved that the 6
[contravention] has been committed with the consent or connivance of,
or is attributable to any gross negligence on the part of any director, manager, secretary or other officer of
the company, such director, manager, secretary or other officer of the company, shall also be deemed to
be guilty of that 6
[offence] and shall be liable to be proceeded against and punished accordingly.
1. Ins. by Act 13 of 2018, s. 158 (w.e.f. 8-3-2019).
2. Subs. by s. 158, ibid.,for “any of his directions or orders” (w.e.f. 8-3-2019).
3. Subs. by s. 159, ibid., for “Offences by companies” (w.e.f. 8-3-2019).
4. Subs. by s. 159, ibid., for “an offence” (w.e.f. 8-3-2019).
5. Subs. by s. 159, ibid., for “an offence under this Act” (w.e.f. 8-3-2019).
6. Subs. by s. 159, ibid., for “offence” (w.e.f. 8-3-2019).
27
1
[(3) The provisions of this section shall be in addition to and not in derogation of, the provisions of
section 22A.]
Explanation .—For the purpose of this section,—
(a) “company”means any body corporate and includes a firm or other association of individuals,
and
2
[(b) “director”, in relation to—
(i) a firm, means a partner in the firm;
(ii) any association of persons or a body of individuals, means any member controlling the
affairs thereof.]
25. Certain offences to be cognizable.—Notwithstanding anything contained in the Code of
Criminal Procedure, 1898 (5 of 1898), any offence punishable under 3***section 23 shall be deemed to be
cognizable offence within the meaning of that Code.
4
[26.Cognizance of offences by courts.—(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 a
recognised stock exchange or by any person.]
5* * * * *]
6
[26A. Establishment of Special Courts.—(1) The Central Government may, for the purpose of
providing speedy trial of offences under this Act, by notification, establish or designate as many Special
Courts as may be necessary.
(2) A Special Court shall consist of a single judge who shall be appointed by the Central Government
with the concurrence of the Chief Justice of the High Court within whose jurisdiction the judge to be
appointed is working.
(3) A person shall not be qualified for appointment as a judge of a Special Court unless he is,
immediately before such appointment, holding the office of a Sessions Judge or an Additional Sessions
Judge, as the case may be.
26B. Offences triable by Special Courts.—Notwithstanding anything contained in the Code of
Criminal Procedure, 1973(2 of 1974), all offences under this Act committed prior to the date of
commencement of the Securities Laws (Amendment) Act, 2014 or on or after the date of such
commencement, shall be taken cognizance of and tried by the Special Court established for the area in
which the offence is committed or where there are more Special Courts than one for such area, by such
one of them as may be specified in this behalf by the High Court concerned.]
26C. Appeal and Revision.—The High Court may exercise, so far as may be applicable, all the
powers conferred by Chapters XXIX and XXX of the Code of Criminal Procedure, 1973(2 of 1974) on a
High Court, as if a Special Court within the local limits of the jurisdiction of the High Court were a Court
of Session trying cases within the local limits of the jurisdiction of the High Court.
26D. Application of Code to proceedings before Special Court.—(1) Save as otherwise provided
in this Act, the provisions of the Code of Criminal Procedure, 1973(2 of 1974) shall apply to the
proceedings before a Special Court and for the purposes of the said provisions, the Special Court shall be
deemed to be a Court of Session and the person conducting prosecution before a Special Court shall be
deemed to be a Public Prosecutor within the meaning of clause (u) of section 2 of the Code of Criminal
Procedure, 1973.
1. Ins. by Act 40 of 1985, s. 3 (w.e.f. 17-1-1986).
2. Subs. by Act 31 of 1999, s. 7, for sub-section (2) (w.e.f. 22-2-2000).
3. The words and brackets “sub-section (1) of” omitted by Act 1 of 2005, s. 12 (w.e.f. 12-10-2004).
4. Subs. by s. 13, ibid., for section 26 (w.e.f. 12-10-2004).
5. Omitted by Act 27 of 2014, s. 38 (w.e.f. 8-9-2014).
6. Ins. by s. 38, ibid. (w.e.f. 8-9-2014).
28
(2) The person conducting prosecution referred to in sub-section (1) should have been in practice as
an advocate for not less than seven years or should have held a post, for a period of not less than seven
years, under the Union or a State, requiring special knowledge of law.
26E. Transitional provisions.—Any offence committed under this Act, which is triable by a Special
Court shall, until a Special Court is established, be taken cognizance of and tried by a Court of Session
exercising jurisdiction over the area, notwithstanding anything contained in the Code of Criminal
Procedure, 1973(2 of 1974):
Provided that nothing contained in this section shall affect the powers of the High Court under section
407 of the Code to transfer any case or class of cases taken cognizance by a court of session under this
section.]