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        SEBI

        Regulation 23 - Withdrawal of recognition

        Securities and Exchange Board of India (Self Regulatory Organisations) Regulations, 2004
        Chapter V
        ACTION IN CASE OF DEFAULT

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        Withdrawal of recognition of SROs: show-cause, hearing and Board directions require cessation of SRO activities. Withdrawal of recognition is triggered when the Board considers it necessary in the interest of trade or public interest; the Board issues a written show-cause notice in Form C to the SRO's board of directors, affords an opportunity to be heard, and may then withdraw recognition by order, with sub-regulations (3), (4) and (5) of regulation 11 applying as if renewal had been rejected; the order must be promptly communicated and the SRO must cease SRO activities and comply with Board directions under the applicable sub-regulations.
                        Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                          Provisions expressly mentioned in the judgment/order text.

                              Withdrawal of recognition of SROs: show-cause, hearing and Board directions require cessation of SRO activities.

                              Withdrawal of recognition is triggered when the Board considers it necessary in the interest of trade or public interest; the Board issues a written show-cause notice in Form C to the SRO's board of directors, affords an opportunity to be heard, and may then withdraw recognition by order, with sub-regulations (3), (4) and (5) of regulation 11 applying as if renewal had been rejected; the order must be promptly communicated and the SRO must cease SRO activities and comply with Board directions under the applicable sub-regulations.


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