Securities And Exchange Board Of India (Custodian Of Securities) Amendment Regulations, 1997 - S.O. No.732(E) - SEBI/LE/20(2)/10/97 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA Mumbai, the 17th October, 1997 S.O. 732(E).- In exercise of powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992(15 of 1992) the Board hereby makes the following regulations further to amend the Securities and Exchange Board of India (Custodian of Securities) Regulations, 1996; 1. Short title and commencement.- (i) These regulations may be called the Securities and Exchange Board of India (Custodian of Securities) Amendment Regulations, 1997. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. After Regulation 25, following new regulations shall be added : 25 A. Appointment of Auditor.- The Board Shall have the power to appoint an auditor to inspect or investigate, as the case may be, into the books of accounts, records, documents or affairs of the applicant or the custodian as the case may be; Provided that the auditors so appointed shall have the same powers as vested in the inspecting officer under regulation 21 and the applicant or custodian and its directors, officers and employees shall be under the same obligations, towards the auditor so appointed, as are mentioned in Regulation 23. 25B. Board to recover the expenses:- The Board Shall be entitled to recover from the custodian or the applicant as the case may be, such expenses including fees paid to the auditors as may be incurred by it for the purposes of inspecting the books of accounts, records and documents of the applicant or the custodian as the case may be. [F. No. SEBI/LE/20(2)/10/97] D. R. MEHTA, Chairman FOOTNOTE : 1. The principal regulation SEBI (Custodian of Securities) Regulations, 1996 were published in the Official Gazette on May 16, 1996 vide S.O. No. 344(E). 2. The said regulations were subsequently amended on December 4, 1996 by SEBI (Custodian of Securities) Amendment Regulations, 1996, vide S. O. No. 851(E) and F. No. SEBI/LE/20(l)96.