Regulation 12 - Proceedings before internal committee - Securities and Exchange Board of India (Settlement of Administrative and Civil Proceedings) Regulations, 2014

CHAPTER VI PROCEDURE OF SETTLEMENT Proceedings before internal committee. 12. (1) Save as otherwise provided in these regulations, an application shall be referred to the internal committee which shall examine whether the proceedings may be settled and if so determine the settlement terms in accordance with these regulations. (2) The internal committee may: (a) call for relevant information, documents, etc., pertaining to the alleged default(s) in the custody of the applicant; (b) call for the personal appearance of the applicant before it: Provided that a duly authorized representative of the applicant may make representation on behalf of the applicant; (c) permit the applicant to revise settlement terms within a period not exceeding ten working days from the date of the internal committee meeting. (3) The proposed settlement terms, if any, shall be placed before the high powered advisory committee.