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    Question

    If any person, who is registered as a stock broker under

    this Act charges an amount of brokerage which is in excess of the brokerage specified in the regulations, he shall be liable to a penalty which shall
    A not be less than one lakh rupees but which may extend to ten times the amount of brokerage charged in excess of the specified brokerage, whichever is lower Correct Answer Incorrect Answer
    B be less than one lakh rupees but which may extend to five times the amount of brokerage charged in excess of the specified brokerage, whichever is higher Correct Answer Incorrect Answer
    C not be less than one lakh rupees but which may extend to five times the amount of total brokerage, whichever is higher Correct Answer Incorrect Answer
    D not be less than one lakh rupees but which may extend to five times the amount of brokerage charged in excess of the specified brokerage, whichever is higher Correct Answer Incorrect Answer
    E not be less than one lakh rupees but which may extend to ten times the amount of brokerage charged in excess of the specified brokerage, whichever is higher Correct Answer Incorrect Answer

    Solution

    Section 15F of SEBI Act - Penalty for default in case of stock brokers

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