Regulation 17 - Procedure for inspection - Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993

17. Procedure for inspection. (1) Before undertaking an inspection under regulation 16, the Board shall give a reasonable notice to the registrar to an issue or share transfer agent for that purpose. (2) Notwithstanding anything contained in sub-regulation (1), where the Board is satisfied that in the interest of the investors or in public interest no such notice should be given, it may by an order in writing direct that the inspection of the affairs of the registrar to an issue and share transfer agent be taken up without such notice. (3) On being empowered by the Board, the inspecting authority shall undertake the inspection and the registrar to an issue or share transfer agent against whom an inspection is being carried out shall be bound to discharge his obligations as provided under regulation 18.