Regulation 21 - Notice before inspection - Securities and Exchange Board of India (Vault Managers) Regulations, 2021

Notice before inspection 21. (1) Before ordering an inspection under regulation 20 , the Board shall give not less than ten days notice to the Vault Manager. (2) Notwithstanding anything contained in sub-regulation (1), where the Board is satisfied that in the interest of the investors no such notice should be given, it may by an order in writing direct that the inspection of the affairs of the Vault Manager be taken up without such notice. (3) During the course of an inspection, the Vault Manager against whom the inspection is being carried out shall be bound to discharge his obligations as provided in regulation 22 .