Section 14 in Securities and Exchange Board of India (Investment Advisers) Regulations, 2013
14. Recognition of body or body corporate for regulation of investment advisers.
(1)The Board may recognize any body or body corporate for the purpose of regulating investment advisers.(2)The Board may, at the time of recognition of such body or body corporate, delegate administration and supervision of investment advisers to such body or body corporate on such terms and conditions as may be specified by the Board.(3)The Board may specify that no person shall act as an investment adviser unless he is a member of a recognized body or body corporate and in such event, provisions of these regulations and bye-laws or articles of such body or body corporate shall apply mutatis mutandis to such investment advisers.
