Regulation 24 - Notice before inspection. - Securities and Exchange Board of India (Investment Advisers) Regulations 2013

Notice before inspection. 24. (1) Before ordering an inspection under regulation 23, the Board shall give not less than ten days notice to the investment adviser. (2) Notwithstanding anything contained in sub-regulation (1), 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 the inspection of the affairs of the investment adviser be taken up without such notice. (3) During the course of an inspection, the investment adviser against whom the inspection is being carried out shall be bound to discharge its obligations as provided in regulation 25.