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After granting immunity under Section 23-O, the Central Government later concludes that the recipient gave false evidence. What does the SCRA permit the Central Government to do in this situation?
Answer & Solution
Correct answer: A.
1. Section 23-O lets the CG withdraw an immunity already granted.
2. Withdrawal is permitted where the recipient did not comply with conditions or gave false evidence.
3. After withdrawal, the person may be tried for the offence to which the immunity attached.
4. The person also becomes liable to the penalty he would have been liable to had immunity never been granted.
5. The SCRA does not contemplate contempt proceedings or permanent acquittal as alternatives.
_Source: ICSI CS Executive Paper 6 (Securities Laws and Capital Markets) — Lesson 1: Securities Contracts (Regulation) Act, 1956, pp. 4-21._
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