Regulation 22 - Power of the Board to order investigation - Securities and Exchange Board of India (Buy Back Of Securities) Regulations, 1998

CHAPTER VI PENALTIES AND PROCEDURE Power of the Board to order investigation 22. (1) The Board may, suo motu or upon information received by it, cause an investigation to be made in respect of the conduct and affairs of any person associated with the process of buy-back, by appointing an officer of the Board : Provided that no such investigation shall be made except for the purposes specified in sub-regulation (2). (2) The purposes referred to in sub-regulation (1) are the following, namely :- (a) to ascertain whether there are any circumstances which would render any person guilty of having contravened any of these regulations or any directions issued thereunder; (b) to investigate into any complaint of any contravention of the regulation, received from any investor, intermediary or any other person. (3) An order passed under sub-regulation (1) shall be sufficient authority for the Investigating Officer to undertake the investigation and on production of an authenticated copy of the order, the person concerned shall be bound to carry out the duty imposed in regulation 23.