Regulation 23 - Omitted - Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993

23. 1 [****] ************* NOTES:- 1 Omitted by the SEBI (Procedure for Holding Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e.f. 27-9-2002. Prior to their omission, regulation read as under: 23. Suspension, cancellation of certificate.─ (1) A penalty of suspension of certificate granted to a registrar to an issue or share transfer agent may be imposed if they (i) violate the provisions of the Act, rules and regulations; (ii) do not follow the code of conduct specified at Schedule III; (iii) (a) fail to furnish any information related to their activities or transactions in securities as required by the Board; (b) furnish wrong or false information; (c) do not submit periodical returns as required by the Board; (d) do not co-operate in any enquiry conducted by the Board; (iv) fail to resolve the complaints of the investors or fail to give a satisfactory reply to the Board in this behalf; (v) indulge in manipulating or price rigging or cornering activities; (vi) are guilty of misconduct, improper, unbusinesslike or unprofessional conduct; (vii) fail to maintain the capital adequacy requirement specified in regulation 7. (viii) fail to pay the fees as specified in regulation 12. (ix) violate the conditions of registration; Provided that the Board for reasons to be recorded in writing may in case of repeated defaults of the type mentioned above impose a penalty of cancellation of certificate on the registrar to an issue or share transfer agent. (2) A penalty of cancellation of certificate granted to a registrar to an issue or share transfer agent may be imposed if they (i) indulge in deliberate manipulation or price rigging or cornering activities affecting the securities market and the investors interest; (ii) violate the provisions of the Act, rules and regulations; (iii) violate any provisions of insider trading regulations or take-over regulations; (iv) are guilty of fraud, or convicted of a criminal offence.