Section 24 in The Securities and Exchange Board of India (Intermediaries) Regulations, 2008
24. Appointment of designated authority.
- [(1) Where it appear to the designated member, that any person who has been granted a certificate of regulation under the Act and regulation made thereunder has committed any default of the nature specified in regulation 23, the designated member may approve the initiation of proceedings under this chapter against such person.(2)The executive Director shall thereafter appoint an office not below the rank of a Division Chief, as a designated authority.Provided that the executive director may at his discretion appoint a bench of three officer each of whom shall not be below the rank of a Division Chief:Provide further that such bench shall be presided by the senior most amongst then an all the decisions or recommendations of such bench shall be by way of majority] [Substituted by Notification No. SEBI/LAD-NRO/GN/2017-18/021, dated 21.11.2017 (w.e.f. 26.5.2008).](3)[] [Re-numbered '(2)' by Notification No. SEBI/LAD-NRO/GN/2017-18/021, dated 21.11.2017 (w.e.f. 26.5.2008).] No officer who has conducted investigation or inspection in respect of the alleged violation shall be appointed as a designated authority.
