Regulation 53 - Notice before inspection and investigation - Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999

Notice before inspection and investigation 53. (1) Before ordering an inspection under regulation 52 the Board shall give not less than ten days notice to the Collective Investment Management Company or trustee as the case may be. (2) Notwithstanding anything contained in sub-regulation (1), where the Board is satisfied that in the interest of the investors no such notice is required to be given, it may, by an order in writing direct that such inspection or investigation be taken up immediately without any notice. (3) During the course of inspection or investigation, the trustee or Collective Investment Management Company against whom the inspection or investigation is being carried out shall be bound to discharge his obligations as provided in regulation 54.