Securities And Exchange Board Of India - Subsection
Section 24(1) in The Securities and Exchange Board of India (Intermediate) Regulations, 2008
(1)Where it appears to the designated member, that any person who has been granted certificate of registration under the Act, regulations made thereunder has committed any default of the nature specified in Regulation 23, he may appoint an officer not below the rank of a Division Chief, as a designated authority.Provided that the designated member may, at his discretion, appoint a bench of three officers, each of whom shall not be below the rank of a Division Chief.Provided further that such bench shall be presided by the senior most amongst them and all the decisions or recommendations of such bench shall be by way of majority.
