Regulation 38 - Notice before inspection - Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014

Notice before inspection. 38. (1) Before undertaking an inspection under regulation 37, the Board shall give not less than ten days notice to the designated depository participants: Provided that where the Board is satisfied that, in the interest of the investors, no such notice should be given, it may, by an order in writing direct that such inspection be taken up without such notice. (2) During the course of an inspection, the designated depository participants against whom the inspection is being carried out shall be bound to discharge its obligation as provided in regulation 39.