(1) The Board may appoint one or more persons as Inspecting Officer toundertake the inspection of the books of account, records, documents andinfrastructure, systems and procedures or to investigate the affairs of thetrustee and Collective Investment Management Company for any of thefollowing purposes, namely:
(a) to ensure that the books of account are being maintained bythe Collective Investment Management Company in the mannerspecified in these regulations;
(b) to ascertain whether the provisions of the Act and theseregulations are being complied with by the trustee and CollectiveInvestment Management Company;
(c) to ascertain whether the systems, procedures and safeguardsfollowed by the Collective Investment Management Company areadequate;
170Substituted by the SEBI (Collective Investment Schemes) (Amendment) Regulations, 2014,w.e.f. 9-1-2014.
171ibid.
172ibid.
(d) to investigate into the complaints received from the investors orany other person on any matter having a bearing on the activities ofthe trustee and Collective Investment Management Company.
Notice before inspection and investigation