Regulation 42 - Appointment of auditor - Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014

Appointment of auditor. 42. The Board shall have the power to appoint an auditor to inspect or investigate, as the case may be, into the books of account, records, documents, infrastructures, systems and procedures or affairs of the applicant or the designated depository participants, as the case may be: Provided that the auditors so appointed shall have the same powers as vested in the inspecting officer under regulation 37 and the applicant or designated depository participants and its directors, officers and employees shall be under the same obligations, towards the auditor so appointed, as are mentioned in regulation 39.