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In force from 1 April 2027. The SEBI (Portfolio Managers) Regulations, 2026 were notified on 7 October 2026 and replace the 2020 Regulations from 1 April 2027. Until then, the 2020 Regulations apply.

REGULATION 36 · Chapter VII · Inspection and disciplinary proceedings

Procedure for inspection

SEBI (Portfolio Managers) Regulations, 2026 · notified 7 October 2026 · in force from 1 April 2027

Regulation 36 as notified

(1) Before undertaking a n inspection under regulation 3 5, the Board shall give a reasonable notice to the portfolio manager. (2) The Board may, for reasons to be recorded in writing, may dispense with the requirement of such notice in the interest of the investors or in public interest. (3) During the inspection, the portfolio manager against whom an inspection is being carried out shall be bound to discharge its obligations as provided under regulation 37.

English text of the Gazette notification. Read with any circulars SEBI issues under these Regulations.

PreviousRegulation 35Board’s right to inspectNextRegulation 37Obligations of Portfolio Manager on inspection

The plain-English note is a learning aid. The notified text is the law; check later SEBI circulars.

Prashant Kumar

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CS Prashant Kumar

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Global Horizons Capital Advisors (IFSC) Private Limited — an IFSCA-licensed investment banker

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Prashant Kumar is a seasoned Company Secretary and corporate governance strategist with more than 13 years of experience advising large corporates, promoter-led groups and global businesses on compliance, regulatory risk and board governance. In GIFT IFSC, the IFSCA regime is his day job rather than a research topic.