Regulation 25 - Omitted - Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993

25. 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: 25. Manner of holding enquiry.─ (1) For the purpose of holding an enquiry under regulation 24, the Board may appoint an enquiry officer. (2) The enquiry officer shall issue to the registrar to an issue or share transfer agent a notice at the registered office or the principal place of business of the registrar to an issue or share transfer agent. (3) The registrar to an issue or share transfer agent may, within thirty days from the date of receipt of such notice, furnish to the enquiry officer a reply together with copies of documentary or other evidence relied on by them or sought by the Board from them. (4) The enquiry officer shall, give a reasonable opportunity of hearing to the registrar to an issue or share transfer agent to enable them to make submissions in support of their reply made under sub-regulation (3). (5) Before the enquiry officer, the registrar to an issue or share transfer agent may either appear in person or through any person duly authorised on their behalf: Provided that no lawyer or advocate shall be permitted to represent the registrar to an issue or share transfer agent at the enquiry. Provided further that where a lawyer or an advocate has been appointed by the Board as a presenting officer under sub- regulation (6), it shall be lawful for the registrar to an issue or share transfer agent to present their case through a lawyer or advocate. (6) If it is considered necessary, the enquiry officer may require the Board to appoint a presenting officer to present its case. (7) The enquiry officer shall, after taking into account all relevant facts and submissions made by the registrar to an issue or share transfer agent, submit a report to the Board and recommend the penalty to be awarded as also on the justification of the penalty proposed.