Securities Laws (Amendment) Act,2004
Section 13. Substitution of new section for Section 26
For Section 26 of the principal Act, the following section shall be substituted, namely:-
“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.
(2) No court inferior to that of a Court of Session shall try any offence punishable under this Act.”