(1) Before ordering an inspection under regulation 21 the Board shall give not less than ten days notice to the 103[custodian].
95 Substituted ibid for the words “custodian of securities”.
96 Substituted for the words “custodian of securities” by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 2018, w.e.f. 1-1-2019.
97 Substituted for the words “custodian of securities” by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 2018, w.e.f. 1-1-2019.
98 Substituted ibid for the words “custodian of securities”.
99 Substituted for the words “custodian of securities” by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 2018, w.e.f. 1-1-2019.
100 Substituted for the words “custodian of securities” by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 2018, w.e.f. 1-1-2019.
101 Substituted ibid for the words “custodian of securities”.
102 Substituted for the words “custodian of securities” by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 2018, w.e.f. 1-1-2019.
(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 104[custodian] be taken up without such notice.
(3) During the course of an inspection, the 105[custodian] against whom the inspection is being carried out shall be bound to discharge his obligations as provided in regulation 23.
Obligations of custodian on inspection by the Board.