Securities Services Act, 2004 (Act No. 36 of 2004)Chapter IX : General ProvisionsEnforcement committee105. Payment of compensatory amount |
| (1) | If a panel is satisfied that a respondent has contravened or failed to comply with section 73, the panel may require the respondent to pay to the board a compensatory amount. |
| (2) | The procedure prescribed by sections 103 and 104 in respect of the imposition of administrative penalties is, with the changes required by the context and subject to subsection (3), applicable when a panel requires the respondent to pay a compensatory amount. |
| (3) | Section 77 is, with the changes required by the context, applicable to the determination and distribution of a compensatory amount. |
| (4) | Such compensatory amount is composed of the equivalent of the profit or loss, the penalty for compensatory and punitive purposes, interest, and where applicable, commission or consideration, as if it were determined under section 77. |
| (5) | No civil proceedings in respect of the same set of facts may be instituted under section 77 against a respondent if the respondent has paid a compensatory amount in terms of this section. |