Regulation 59 - Board’s right to inspect. - Securities And Exchange Board of India (Depositories And Participants) Regulations, 1996

CHAPTER VI INSPECTION Board s right to inspect. 59. The Board may appoint one or more persons as inspecting officer to undertake inspection of the books of account, records, documents and infrastructure, systems and procedures, or to investigate the affairs of a depository, a participant, a beneficial owner an issuer or its agent for any of the following purposes, namely:- (a) to ensure that the books of account are being maintained by the depository, participant, issuer or its agent in the manner specified in these regulations; (b) to look into the complaints received from the depositories, participants, issuers, issuers agents, beneficial owners or any other person; (c) to ascertain whether the provisions of the Act, the Depositories 1 [Act], the bye-laws, agreements and these regulations are being complied with by the depository, participant, beneficial owner, issuer or its agent; (d) to ascertain whether the systems, procedures and safeguards being followed by a depository, participant, beneficial owner, issuer or its agent are adequate; (e) to suomotu ensure that the affairs of a depository, participant, beneficial owner, issuer or its agent, are being conducted in a manner which are in the interest of the investors or the securities market. ********* 1 Substituted for Ordinance by the SEBI (Depositories and Participants) (Amendment) Regulations, 1997, w.e.f. 7-2-1997.