Regulation 26 - Notice before inspection or investigation. - Securities And Exchange Board of India (Venture Capital Funds) Regulations, 1996

Notice before inspection or investigation. 26. (1) Before ordering an inspection or investigation under regulation 25, the Board shall give not less than ten days notice to the venture capital fund. (2) Notwithstanding anything contained in sub-regulation (1) where the Board is satisfied that in the interest of the investors no such notice should be given, it may by an order in writing direct that the inspection or investigation of the affairs of the venture capital fund be taken up without such notice. (3) During the course of an inspection or investigation, the venture capital fund against whom the inspection or investigation is being carried out shall be bound to discharge its obligations as provided in regulation 27.