Section Text
1[In section 46 of the principal Act, --
(a) for the first proviso, the following proviso shall be substituted, namely:--
"Provided that lesser penalty shall not be imposed by the Commission in cases where the report of investigation directed under section 26 has been received before making of such disclosure:";
(b) in the second proviso, for the word "first", the word "has" shall be substituted;
(c) after the second proviso, the following proviso shall be inserted, namely:--
"Provided also that lesser penalty shall not be imposed by the Commission if the person making the disclosure does not continue to cooperate with the Commission till the completion of the proceedings before the Commission."]
__________________________
1. Effective date 20th May 2009- notified vide Ministry of Corporate Affairs Notification No S.O.1242(E) dated 15.05.2009.