CHAPTER IV
ENQUIRY AND INSPECTION
18. Power of Board to call for information and enquiry
(1)
The Board, on being satisfied that it is necessary in the
public interest or in the interest of investors so to do, may,
by order in writing, -
(a) call upon any issuer, depository, participant or
beneficial owner to furnish in writing such information
relating to the securities held in a depository as it may
require; or
(b) authorise any person to make an enquiry or
inspection in relation to the affairs of the issuer,
beneficial owner, depository or participant, who shall
submit a report of such enquiry or inspection to it
within such period as may be specified in the order.
(2) Every director, manager, partner, secretary, officer
or employee of the depository or issuer or the participant or
beneficial owner shall on demand produce before the person
making the enquiry or inspection all information or such
records and other documents in his custody having a bearing on
the subject matter of such enquiry or inspection.
19. Power of Board to give directions in certain cases Save
as provided in this Act, if after making or causing to be made
an enquiry or inspection, the Board is satisfied that it is
necessary -
(i) in the interest of investors, or orderly development
of securities market; or
(ii) to prevent the affairs of any depository or
participant being conducted in the manner detrimental to the
interests of investors or securities market.
it may issue such directions -
(a) to any depository or participant or any person
associated with the securities market; or
(b) to any issuer,
as may be appropriate in the interest of investors or the
securities market.
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