Regulation 36 - Omitted - Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999

36. 1 [ **** ] ************* NOTES:- 1 Omitted by the SEBI (Procedure for Holding Enquiry by Enquiry officer and Imposing Penalty) Regulation, 2002, w.e.f. 27-9-2002. Prior to omission, regulation read as follows: 36. Cancellation of Registration.─ (1) A penalty of cancellation of certificate of registration of a credit rating agency may be imposed by the Board, if: (a) the credit rating agency is guilty of fraud, or has been convicted of an offence involving moral turpitude or an economic offence; or (b) in case of repeated defaults of the nature mentioned in sub-regulation (1) of regulation 34. (c) the credit rating agency is declared insolvent or wound up; (2) The Board shall furnish to the credit rating agency reasons in writing for cancellation of registration.