Securities and Exchange Board of India Act : Penalty for failure by any person to enterr into

Securities and Exchange Board of India Act,1992

Act No : 15

Section : Penalty for failure by any person to enterr into agreement withclients.

15B. Penalty for failure by any person to enter into agreement with clients. If any person, who is registered as an intermediary and is required under this Act or any rules or regulations made thereunder to enter into an agreement with his client, fails to enter into such agreement, he shall be liable to a penalty not exceeding five lakh rupees for every such failure.