Regulation 31 - Omitted - Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993

31. 1 [* * *] ********* 1 Omitted by the Securities (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e.f. 27-09-2002. Prior to their omission, regulation read as under: 31. Suspension of registration.─ (1) A penalty of suspension of registration of a portfolio manager may be imposed where - (i) the portfolio manager violates the provisions of the Act, rules or regulations; (ii) the portfolio manager - (a) fails to furnish any information relating to his activity as portfolio manager as required by the Board; (b) furnishes wrong or false information; (c) does not submit periodical returns as required by the Board; (d) does not co-operate in any enquiry conducted by the Board; (iii) the portfolio manager fails to resolve the complaints of the investors or fails to give a satisfactory reply to the Board in this behalf; (iv) the portfolio manager indulges in manipulating or price rigging or cornering activities; (v) the portfolio manager is guilty of misconduct or improper or unbusinesslike or unprofessional conduct which is not in accordance with the Code of Conduct specified in Schedule III; (vi) the portfolio manager fails to maintain the capital adequacy requirement in accordance with the provisions of regulation 7; (vii) the portfolio manager fails to pay the fees; (viii) the portfolio manager violates the conditions of registration; (ix) the portfolio manager does not carry out his obligations as specified in the regulation.