Regulation 33 - Action on inspection or investigation report - Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999

1 [Action on inspection or investigation report 33. The Board or the Chairman shall after consideration of inspection or investigation report take such action as the Board or Chairman may deem fit and appropriate including action under 2 [Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.]] ************ NOTES:- 1 Substituted by the SEBI (Procedure for Holding Enquiry by Enquiry officer and Imposing Penalty) Regulation, 2002 w.e.f. 27-9-2002. Prior to its substitution, regulation 33 read as under: 33. Communication of Findings etc. to the Credit Rating Agency.─(1) The Board shall, after consideration of the inspection report or the interim report referred to in regulation 32, communicate the findings of the inspecting officer to the credit rating agency and give it a reasonable opportunity of being heard in the matter. (2) On receipt of the explanation, if any, from the credit rating agency, the Board may call upon the credit rating agency to take such measures as the Board may deem fit in the interest of the securities market and for due compliance with the provisions of the Act and these regulations. 2 Substituted for the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry officer and Imposing Penalty) Regulations, 2002 by the SEBI (Intermediaries) Regulations, 2008, w.e.f. 26.05.2008