Cognizance of offences by courts.

26. (1) No court shall take cognizance of any offence punishable under this Act or any rules or regulations made thereunder, save on a complaint made by the Board 1[* * *].

2[(2) *****]

1.  The words "with the previous sanction of the Central Government" omitted by Securities Laws (Amendment) Act 1995, w.e.f. 25-1-1995.

2.  Omitted by the Securities Laws (Amendment) Act, 2014, w.r.e.f. 18-07-2013. Prior to the omission, sub-section (2) read as under: 

"(2) No court inferior to that of a Court of Session shall try any offence punishable under this Act."