Regulation 16 - Revocation of unique identification number - Securities and Exchange Board of India (Central Database Of Market Participants) Regulations, 2003

Revocation of unique identification number 16. (1) Where it is found that the unique identification number was obtained by a person through fraud or misrepresentation or was allotted to him under a mistake, the Board may, without prejudice to other action that it may take under any law for the time being in force and after giving him an opportunity of making representations, revoke the unique identification number allotted to him or to the related persons. (2) Upon revocation of the unique identification number of a person, the provisions of these regulations shall apply from the date of revocation, as if no unique identification number was allotted to him. (3) Every order passed by the Board under these regulations shall be in writing.