Regulation 24 - Appointment of designated authority
Securities and Exchange Board of India (Intermediaries) Regulations, 2008 Chapter V ACTION IN CASE OF DEFAULT AND MANNER OF SUSPENSION OR CANCELLATION OF CERTIFICATE
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Appointment of designated authority authorises initiating proceedings for specified defaults and governs bench composition and ineligibility. The Board may approve initiation of proceedings for defaults under regulation 23, and the Executive Director shall appoint an officer not below Division Chief as designated authority or a three-member bench presided by the senior-most member with majority decisions; no officer who conducted the related investigation or inspection may be appointed. Amendments have renumbered and substituted prior text, recording changes in who approves initiation and the provision's numbering.
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Appointment of designated authority authorises initiating proceedings for specified defaults and governs bench composition and ineligibility.
The Board may approve initiation of proceedings for defaults under regulation 23, and the Executive Director shall appoint an officer not below Division Chief as designated authority or a three-member bench presided by the senior-most member with majority decisions; no officer who conducted the related investigation or inspection may be appointed. Amendments have renumbered and substituted prior text, recording changes in who approves initiation and the provision's numbering.
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