Regulation 20 - Procedure for inspection - Securities and Exchange Board of India (Underwriters) Regulations, 1993

Procedure for inspection. 20. (1) Before undertaking an inspection under regulation 19, the Board shall give a reasonable notice to the underwriter, for that purpose. (2) Notwithstanding anything contained in sub-regulation (1), where the Board is satisfied that in the interest of the investors or in the public interest no such notice should be given, it may by an order in writing direct that the inspection of the affairs of the underwriter be taken up without such notice. (3) On being empowered by the Board, the inspecting authority shall undertake the inspection and the underwriter against whom an inspection is being carried out shall be bound to discharge his obligations as provided under regulation 21.