THE GAZETTE OF INDIA
EXTRAORDINARY
PART II – SECTION 3 – SUB-SECTION (ii)
PUBLISHED BY AUTHORITY
MINISTRY OF FINANCE
(Department of Economic Affairs)
(CAPITAL MARKET DIVISION)
NOTIFICATION
New Delhi, the 7th September, 2006
S.O. 1455(E).- In exercise of the powers conferred by Section 29 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Central Government hereby rescinds with immediate effect the following rules and notifications, namely:-
(a) the Securities and Exchange Board of India (Merchant Bankers) Rules, 1992 published in Part-II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, under notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number G.S.R 937 (E) dated the 22nd December, 1992;
(b) the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Rules, 1992 published in Part-II, Section 3, Sub-section (ii) of the Gazette of India, Extraordinary, under notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number S.O.627 (E) dated the 20th August, 1992;
(c) the Securities and Exchange Board of India (Debenture Trustees) Rules, 1993 published in Part-II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, under notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number G.S.R 788 (E) dated the 29th December, 1993;
(d) the Securities and Exchange Board of India (Underwriters) Rules, 1993 published in Part-II, Section 3, Sub-section (ii) of the Gazette of India, Extraordinary, under notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number S.O.766 (E) dated the 8th October, 1993;
(e) the Securities and Exchange Board of India (Portfolio Managers) Rules, 1993 published in Part-II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, under notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number G.S.R 4 (E) dated the 7th January, 1993;
(f) the Securities and Exchange Board of India (Registrars of an Issue and Share Transfer Agents) Rules, 1993 published in Part-II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, under notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number G.S.R 436 (E) dated the 31st May, 1993;
(g) the Securities and Exchange Board of India (Bankers to an Issue) Rules, 1994 published in Part-II, Section 3, Sub-section (i) of the Gazette of India, Extraordinary, under notification of the Government of India in the Ministry of Finance (Department of Economic Affairs) number G.S.R 585 (E) dated the 14th July, 1994 :
Provided that such rescission shall not affect—
(i) the previous operation of the said rules or anything done or omitted to be done or suffered therein; or
(ii) any right, privilege, obligation or liability acquired or accrued or incurred under the said rules; or
(iii) any penalty, forfeiture or punishment incurred in respect of any offence committed against the said rules; or
(iv) any investigation, legal proceedings or remedy in respect of any such right, privilege, obligation, liability, penalty, forfeiture or punishment as aforesaid;
and any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty, forfeiture or punishment may be imposed as if the said rules had not been rescinded.
[F.No.5/72/CM/2005]
Dr. K.P. KRISHNAN, Jt. Secy.
