THE GAZETTE OF INDIA EXTRA ORDINARY PART II -SECTION 3 - SUB-SECTION (ii) PUBLISHED BY AUTHORITY SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION MUMBAI 17th SEPTEMBER, 1997 SECURITIES AND EXCHANGE BOARD OF INDIA (REGISTRARS TO ISSUE AND SHARE TRANSFER AGENTS)AMENDMENT REGULATIONS, 1997  

 


S.O. 660 (E)- In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act (1 5 of 1992) the Board hereby makes the following regulations further to amend the Securities and Exchange Board of India (Registrar to Issue and Share Transfer Agents) Regulations, 1993 :

1 - Short Title and Commencement.--- (i) These regulations may be called the Securities and Exchange Board of India (Registrars to Issue and Share Transfer Agents) Amendment Regulations, 1997.

(ii) They shall come into force on the date of their notification in the official gazette.

2. After regulation 13, a new regulation 13A may be added as follows

13A. Registrar to an issue not to act as such for an associate.---"No registrar to an issue shall act as such registrar for any issue of securities in case he or it is an associate of the body corporate issuing the securities".

          Explanation :

(a) he or it controls directly or indirectly not less than 10 per cent of the voting power of the body corporate or of the registrar to an issue, as the case may be ; or.

(b) he or any of his relative is a director of the body corporate or of the registrar to an issue, as the case may be.

The term 'relative' shall have the same meaning as is assigned to it under section 6 of the Companies Act, 1956.

 

[F. No. SEBI/LE/200519/97

D. R MEHTA, Chairman

  Footnote:

1. The principal regulation SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 "published in Official Gazette of India on May 31, 1993 vide No. SEBI/LE/5193.

2. It was subsequently amended on November 28, 1995 by SEBI (Payment of Fees) Amendment Regulations, 1995 vide S.O. No. 939(E).