Regulation 17 - Procedure for inspection - Securities and Exchange Board of India (Self Regulatory Organisations) Regulations, 2004

Procedure for inspection. 17.(1) Before undertaking any inspection under regulation 16, the Board shall give a reasonable notice to the Self Regulatory Organization for that purpose. (2) Notwithstanding anything contained in sub-regulation (1), where the Board is satisfied that in the interest of the investors or in public interest, no such notice should be given, it may by an order in writing, direct that the inspection of the affairs of the Self Regulatory Organization be taken up without such notice. (3) On being empowered by the Board, the inspecting authority shall undertake the inspection and the Self Regulatory Organization against whom an inspection is being carried out shall be bound to discharge its obligations as provided under regulation 18.