Regulation 23 - Saving of actions - Securities And Exchange Board of India (Procedure For Holding Enquiry By Enquiry Officer And Imposing Penalty) Regulations, 2002

Saving of actions 23. (1) Notwithstanding amendment of the regulations as specified in regulation 21, anything done or any action taken including any proceeding for inspections or investigation or enquiry commenced or any notice issued under the said regulations before the commencement of these regulations shall be deemed to have been done or taken under the corresponding provisions of these regulations. (2) In particular and without prejudice to the generality of the provisions of sub-regulation (1), - (i) an enquiry proceeding initiated by the Board under the relevant Regulations and pending before the Board before the commencement of these regulations shall be conducted and completed under the Relevant regulations as if those are not amended as specified in regulation 21; (ii) any order appointing an enquiry officer under the relevant Regulations and pending before such enquiry officer immediately before the commencement of these regulations shall be deemed to have been ordered under the corresponding provisions of these regulations.