Lawgist33Power to grant immunity
(1) The Central Government may, on the recommendation by the Authority, if satisfied, that any person, who is alleged to have violated any of the provisions of this Act or the rules or the regulations made thereunder, has made a full and true disclosure in respect of alleged violation, grant to such person, subject to such conditions as it may think fit to impose, immunity from prosecution for any offence under this Act, or the rules or the regulations made thereunder and also from the imposition of any penalty under this Act with respect to the alleged violation:
Provided that no such immunity shall be granted by the Central Government in cases where the proceedings for the prosecution for any such offence have been instituted before the date of receipt of application for grant of such immunity:
Provided further that the recommendation of the Authority under this sub-section shall not be binding upon the Central Government.
(2) An immunity granted to a person under sub-section (1) may, at any time, be withdrawn by the Central Government, if it is satisfied that such person had, in the course of the proceedings, not complied with the condition on which the immunity was granted or had given false evidence, and thereupon such person may be tried for the offence with respect to which the immunity was granted or for any other offence of which he appears to have been guilty in connection with the contravention and shall also become liable to the imposition of any penalty under this Act to which such person would have been liable, had no such immunity been granted.
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- 1 Short title, extent and commencement
- 2 Definitions
- 3 Establishment and incorporation of Authority
- 4 Composition of Authority
- 5 Term of office and conditions of service of Chairperson and members of Authority
- 6 Removal of members from office
- 7 Restriction on future employment of members
- 8 Administrative powers of Chairperson
- 9 Meetings of Authority
- 10 Vacancies, etc., not to invalidate proceedings of Authority
- 11 Officers and employees of Authority
- 12 Extent and application
- 13 Transfer of assets, liabilities, etc., of Interim Pension Fund Regulatory and Development Authority
- 14 Duties, powers and functions of Authority
- 15 Power to issue directions
- 16 Power of investigation
- 17 Search and seizure
- 18 Power of Authority to ensure compliance
- 19 Management by Administrator
- 20 National Pension System
- 21 Central Recordkeeping Agency
- 22 Point of presence
- 23 Pension funds
- 24 Certain restrictions on foreign companies or individual or association of persons
- 25 Prohibition of investment of funds of subscribers outside India
- 26 Eligibility norms of the central recordkeeping agency, etc
- 27 Registration of central recordkeeping agency, pension fund, point of presence, etc
- 28 Penalty for failure by an intermediary or any other person to comply with provisions of this Act, rules, regulations and directions
- 29 Crediting sums realised by way of penalties to Subscriber Education and Protection Fund
- 30 Power to adjudicate
- 31 Attachment of assets and supersession of management of intermediary
- 32 Offences
- 33 Power to grant immunity
- 34 Exemption from tax on wealth, income, profits and gains
- 35 Cognizance of offences by court
- 36 Appeal to Securities Appellate Tribunal
- 37 Civil Court not to have jurisdiction
- 38 Appeal to Supreme Court
- 39 Grants by Central Government
- 40 Constitution of Pension Regulatory and Development Fund
- 41 Constitution of Subscriber Education and Protection Fund
- 42 Accounts and audit
- 43 Power of Central Government to issue directions
- 44 Power of Central Government to supersede Authority
- 45 Establishment of Pension Advisory Committee
- 46 Furnishing of returns, etc., to Central Government
- 47 Members, officers and employees of Authority to be public servants
- 48 Protection of action taken in good faith
- 49 Delegation of powers
- 50 Offences by companies
- 50A Powers of Authority not to apply to International Financial Services Centre
- 51 Power to make rules
- 52 Power to make regulations
- 53 Rules and regulations to be laid before Parliament
- 54 Power to remove difficulties
- 55 Application of other laws not barred
- 56 Savings
