Securities And Exchange Board Of India (Procedure For Holding Enquiry By Enquiry Officer And Imposing Penalty) (Amendment) Regulations, 2006. - S.O. No.1348(E) - SEBI/LAD/DOP/2108/2006 - SEBI
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Show cause notice power clarified: Enquiry Officers may require intermediaries to explain alleged contraventions before further action. Where an Enquiry Officer is appointed and finds reasonable grounds, he may issue a show cause notice to the intermediary calling for an explanation why further action should not be taken, specifying the nature of the alleged contraventions; the amendment also omits clause (i) of regulation 15 and deletes the second proviso to regulation 16(1).
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Show cause notice power clarified: Enquiry Officers may require intermediaries to explain alleged contraventions before further action.
Where an Enquiry Officer is appointed and finds reasonable grounds, he may issue a show cause notice to the intermediary calling for an explanation why further action should not be taken, specifying the nature of the alleged contraventions; the amendment also omits clause (i) of regulation 15 and deletes the second proviso to regulation 16(1).
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