(1) In these rules, unless the context otherwise requires,—
(a) "Act" means the Securities Contracts (Regulation) Act, 1956 (42 of 1956);
(b) "adjudicating officer" means the officer appointed by the Securities and Exchange Board of India as adjudicating officer under section 23-I of the Act;
(c) "inquiry" means the inquiry referred in section 23-I.
(2) Words and expressions used herein and not defined in these rules but defined in the Securities Contracts (Regulation) Act, 1956 shall have the same meanings respectively assigned to them under that Act.
Appointment of adjudicating officer for holding inquiry
3. Whenever the Securities and Exchange Board of India is of the opinion that there are grounds for adjudging under sections 23A, 23B, 23C, 23D, 23E, 23F, 23G and 23H of the Act, it may appoint any of its officer not below the rank of Division Chief to be an adjudicating officer for holding an inquiry for the said purpose.
Holding of inquiry