THE GAZETTE OF INDIA

EXTRAORDINARY

PART –II – SECTION 3 – SUB SECTION (ii)

PUBLISHED BY AUTHORITY

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, the 13^th July, 2004

SECURITIES AND EXCHANGE BOARD OF INDIA (PROCEDURE FOR HOLDING ENQUIRY BY ENQUIRY OFFICER AND IMPOSING PENALTY) (AMENDMENT) REGULATIONS, 2004

S.O. 853(E).-In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, namely :-

1.      These Regulations may be called the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Amendment) Regulations, 2004.

2.      They shall come into force on the date of their publication in the Official Gazette.

3.      In the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 (hereinafter referred to as 'the said Regulations');

(a)  In regulation 2, in sub-regulation (1), for clause (e), the following shall be substituted,  namely-

“(e)   “Enquiry Officer” means an Officer of the Board, not below the rank of Assistant General Manager or Assistant Legal Advisor, appointed by the Chairman or a Member designated in this behalf to conduct enquiry.”

G.N. BAJPAI CHAIRMAN SECURITIES AND EXCHANGE BOARD OF INDIA F.No. SEBI\LAD\DOP\14982\2004  _______________________________________________________________________ Foot Notes :- (1) Securities and Exchange Board of India(Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, were notified in the Gazette of India on 27.9.2002 vide S.O. No. 1045(E).

(2)   The Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 were subsequently amended –   (a)   On November 27, 2003 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Amendment) Regulations, 2003 vide F. No.SEBI/LAD/DOP/22093/2003).   (b)   On December 30, 2003 by the Securities and Exchange Board of India  (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Second Amendment) Regulations, 2003 vide F. No. SEBI/LAD/DOP/24418/2003.