Regulation 5 - Power of the Board to order investigation - Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003

CHAPTER III INVESTIGATION Power of the Board to order investigation 5. Where the Board, the Chairman, the member or the Executive Director (hereinafter referred to as appointing authority ) has reasonable ground to believe that- (a) the transactions in securities are being dealt with in a manner detrimental to the investors or the securities market in violation of these regulations; (b) any intermediary or any person associated with the securities market has violated any of the provisions of the Act or the rules or the regulations, it may, at any time by order in writing, direct any 1 [ person ] (hereinafter referred to as the Investigating Authority ) specified in the order to investigate the affairs of such intermediary or persons associated with the securities market or any other person and to report thereon to the Board in the manner provided in section 11C of the Act. ************* NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2020/08 dated 13-03-2020 before it was read as, officer not below the rank of Division Chief