Regulation 20 - Action on inspection or investigation report - Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993

1 [20. Action on inspection or investigation report.─ The Board or the Chairman shall after consideration of the inspection or investigation report take such action as the Board or Chairman may deem fit and appropriate including action under [Chapter V of the SEBI (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 20 read as under: 20. Communication of findings etc.─ (1) The Board shall after consideration of the inspection report communicate the findings to the registrar to an issue or share transfer agent to give him an opportunity of being heard before any action is taken by the Board on the findings of the inspecting authority. (2) On receipt of the explanation if any, from the registrar to an issue or share transfer agent, the Board may call upon them 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, rules and regulations.