Regulation 22 - Notice before inspection - Securities and Exchange Board of India (Custodian) Regulations, 1996

Notice before inspection. 22. (1) Before ordering an inspection under regulation 21 the Board shall give not less than ten days notice to the 1 [ custodian ] . (2) Notwithstanding anything contained in sub-regulation (1), where the Board is satisfied that in the interest of the investors no such notice should be given, it may by an order in writing direct that the inspection of the affairs of the 1 [ custodian ] be taken up without such notice. (3) During the course of an inspection, the 1 [ custodian ] against whom the inspection is being carried out shall be bound to discharge his obligations as provided in regulation 23. ************* NOTES:- 1. Substituted vide NOTIFICATION No. SEBI/LAD-NRO/GN/2019/01 dated 01-01-2019 before it was read as custodian of securities