*[22. 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 by any person. (2) No court inferior to that of a Court of Session shall try any offence punishable under this Act.]
*[substituted by Securities Laws (Amendment) Act, 2004, section 18, Chapter III]
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