Regulation 15 - Board to be informed of any disciplinary action taken by the Reserve Bank - Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994

Board to be informed of any disciplinary action taken by the Reserve Bank. 15. Every banker to an issue shall inform the Board forthwith if any disciplinary action is taken by the Reserve Bank against the banker to an issue only in relation to issue payment work : Provided that if as a result of any such action, the banker to an issue is prohibited from carrying on the activities, the certificate shall be deemed to have been suspended or cancelled as the case may be.