# 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 1[liable to a penalty which shall not be less than one lakh rupees but which may extend to one crore rupees].
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1. Subs. by s. 28, <i>ibid</i>., for "liable to a penalty not exceeding one crore rupees" (w.e.f. 8-9-2014).
PENALTIES AND PROCEDURE
23
Penalties23A
Penalty for failure to furnish information, return, etc23B
Penalty for failure by any person to enter into an agreement with clients23C
Penalty for failure to redress Investors grievances23E
Penalty for failure to comply with provision of listing conditions or delisting conditions or grounds23F
Penalty for excess dematerialisation or delivery of unlisted securities23G
Penalty for failure to furnish periodical returns, etc
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