Regulation 24 - Appointment of Auditor - Securities and Exchange Board of India (Underwriters) Regulations, 1993

Appointment of Auditor . 24. Notwithstanding anything contained above the Board may appoint a qualified auditor to investigate into the books of account or the affairs of the underwriter: Provided that the auditor so appointed shall have the same powers of the inspecting authority as stated in regulation 19 and the obligation of the underwriter and his employees in regulation 21 shall be applicable to the investigation under this regulation. Explanation.-For the purposes of this regulation, the expression qualified auditor shall have the same meaning as given to it in section 226 of the Companies Act, 1956 (1 of 1956).