THE GAZETTE OF INDIA

1 · (1) These regulations may be called the Securities and Exchange Board of India(Procedure for Search and Seizure) Regulations, 2014.

2 · (1) In these regulations, unless the context otherwise requires , the terms defined herein shall bear the meanings assigned to them below, and their cognate expressions shall be construed accordingly,–

3 · . An Investigating Authority, having reason to believe that any or all of the grounds specified under sub-section (8) of section 11C of the Act exist, may make a request in writing in physical or electronic mode as per Form A of the Schedule to the Chairman for issuance of warrant of authority, specifying therin the grounds reasons for multiple execution, if required and the details of the person or enterprise and its building, place, vessel, vehicle or aircraft whose search is required to be authorised ,.

4 · (1) On receipt of the request under regulation 3, the Chairman may, after being satisfied that it is necessary to do so, authorise the Investigating Authority or any other officer of the Board as the authorised officer by issuing a warrant of authority as per

5 · (1) A warrant of authority shall be signed and sealed by the Chairman .

6 · . A warrant of authority issued under these regulations shall be returned to the Chairman , -

7 · . Before making a search under this Chapter, the authorised officer shall call upon two or more independent and respectable inhabitants of the locality in which the place to be searched is situate or of any other locality if no such inhabitant of the said locality is available or is willing to be a witness to the search, to attend and witness the search and may issue an order in writing to them or any of them so to do:

8 · (1) If ingress into any, place or building cannot be so obtained or no one is present in the place or building , it shall be lawful for the authorised officer executing the w arrant of authority, to enter such building or place and search therein and in order to

9 · (1) The authorised officer on production of the warrant of authority to any person in charge of vessel, vehicle or aircraft, authorised to be searched, shall have the free ingress to vessel, vehicle or aircraft for the purpose of execution of warrant of authority.

10 · . (1) Any person who has got out of or is about to get into or is in the building, place, v essel, vehicle or aircraft authorised to be searched under the warrant of authority, if the authorised officer has reason to suspect that such person has secreted about his person any such books of account or other documents, may be searched; and if such person is a female, the search shall be made by another female officer so authorised with strict regard to decency.

11 · . (1) The authorised officer having authority to search any place or person, may , -

1 · 'computer' includes devices mentioned under sub clause (iv) of clause (e) of sub regulation(1) of regulation (2) of these regulations.

2 · ' computer or other data storage device' includes any other computer or data storage device, whether at the place which is being searched or at any other place which is lawfully accessible by means of that computer.

12 · . The authorised officer while executing the warrant of authority, if so authorised, shall have the power of inspection of the documents found in any place, building, vessel, vehicle and aircraft .

13 · . The authorised officer while executing the warrant of authority, if authorised, shall have the power to seize any such books of account or other documents, found as a result of such search, or, get the signature of such persons under clauses (i) and (j) of sub r egulation (2) of regulation 14 of these regulations over such documents as applicable:

14 · . (1) An authorised officer executing the warrant of authority shall, in the presence of the person from whom or whose premises,vessel, vehicle or aircraft the documents were seized, if such person is available, prepare a seizure memo in Form E of the Schedule duly signed by two witnesses, containing a list of all documents seized or copied in the course of such search and of the places in which they were respectively found and verify the inventory of any such documents seized:

15 · . The authorised officer while executing the warrant of authority, if authorised, shall have the power to place mark of identification on any books of account or other documents:

16 · . The authorised officer while executing the warrant of authority shall have the power to make or cause to be made extracts or copy of documents or any books of account.

17 · . (1) The authorised officer while executing the warrant of authority shall have the power to record on oath the statement of any person who is found to be in possession or in control of the information or documents referred to in sub clauses (i), (iii) or (iv) of sub -section (8) of section 11C of the Act:

18 · . (1) The authorised officer before executing the warrant of authority, shall,-

19 · . The occupant of the building, place, vessel, vehicle or aircraft searched, including the person in charge of such vessel, vehicle or aircraft, shall have the right , -

20 · (1) Any person in charge of or in any building, place, authorised to be searched shall, on demand by the authorised officer to execute warrant of authority and on production of the authority, identify any person as may be required by the authorised officer .

21 · (1) The documents seized shall be transmited in safe manner to the place of custody. (2) The authorised officer who is not the Investigating Authority, shall hand over the documents seized along with the seizure memo to the Investigating Authority .

22 · (1) The Investigating Authority shall return the documents kept under regulation 21 to the company or the other body corporate, or, as the case may be, to the managing director or the manager or any other person from whose or custody or power they were seized:

23 · . The personal information contained in any document seized and kept in accordance with these regulations shall not be divulged to any third person, except for the

24 · . Notwithstanding anything contained in regulation 22 of these regulations, -

25 · . Without prejudice to any action under any law for the time being in force,

26 · In order to remove any difficulties in the interpretation or application of the provisions of these regulations, the Board may issue guidance or circulars.

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4 · Starting Time Closing Time Duration Remarks

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