Regulation 6 - Issuance of notice - SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING PENALTY) REGULATIONS, 2002

1 [Issuance of notice. 6. 2 [ (1) Where an Enquiry Officer is appointed, he shall, if he finds reasonable grounds to do so, issue show cause notice to the intermediary concerned calling up on it to show cause as to why further action should not be taken against it under these Regulations, specifying therein the nature of the contraventions alleged to have been committed by him. (i) to submit within a period to be specified in the notice, 3 [ ***] not exceeding twenty-one days, a written statement, if any, to the enquiry officer appointed under sub-regulation (1) of regulation 5, and (ii) to specify whether he desires to be heard in person before the enquiry officer:] 4 [ provided that the enquiry officer may extend the time mentioned under clause (i) for sufficient reasons to be recorded in writing] (2) There shall be annexed to the notice issued under sub-regulation (1) copies of documents relied on by the Board and extracts of relevant portions of documents containing the findings arrived at in any investigation or inspection held by the Board in respect of the alleged contravention. (3) The notice under sub-regulation (1) shall require the intermediary *********** 1 Substituted by the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty (Amendment) Regulations, 2003 , w.e.f. 27.11.2003. 2. Substituted by the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty (Amendment) Regulations, 2006, w.e.f. 21.08.2006. prior to its substitution, sub-regulation (1) read as under:- (1) where it is proposed to hold an enquiry against an intermediary under these regulations an officer of the Board specified by the Chairman or the member in this behalf, shall issue to the intermediary a notice starting therein the contravention of the relevant regulations alleged to have been committed by the intermediary 3 Word ordinarily omitted by the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty (Second Amendment) Regulations, 2005, w.e.f. 7.6.2005. *[As corrected vide so 1333(E) dated 21.08.2006. 4. Inserted ibid