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<h1>SEBI 2018 Regulations: Rules for Appointing Administrators for Investor Refunds and Managing Non-Compliance Cases</h1> The Securities and Exchange Board of India (SEBI) Regulations, 2018, govern the appointment of an Administrator for managing investor refunds and related processes. They apply in cases of non-compliance with disgorgement or refund orders, sale of attached properties, collection and verification of investor claims, and recovery of disgorgement amounts. These regulations are not applicable if a court or the Securities Appellate Tribunal appoints an administrator for recovery or repayment. The regulations also extend to proceedings under the Securities Contracts (Regulation) Act, 1956, and the Depositories Act, 1996, with necessary modifications.