Regulation 25 - Action on inspection or investigation report - Securities and Exchange Board of India (Custodian) Regulations, 1996

1 [Action on inspection or investigation report. 25. 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) Regulations, 2002, w.e.f. 27-9-2002. Prior to its substitution, regulation 25 read as under: 25. (1) Communication of findings etc. to the custodian of securities of securities.─The Board shall, after consideration of the inspection report or the interim report referred to in regulation 24, communicate the findings of the inspection officer to the custodian of securities and give him an opportunity of being heard. (2) On receipt of the reply if any, from the custodian of securities, the Board may call upon the custodian of securities 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, the rules framed thereunder and these regulations. 2 Substituted for the words 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. 26-5-2008.