Regulation 75 - Action against intermediaries - Securities and Exchange Board of India (Mutual Funds) Regulations, 1996

Action against intermediaries 75. The Board may initiate action for suspension or cancellation of registration of an intermediary holding a certificate of registration under section 12 of the Act who fails to exercise due diligence or to comply with the obligations under these regulations: Provided that no such certificate of registration shall be suspended or cancelled unless the procedure specified in regulations applicable to such intermediary is complied with.