Amended notification of the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2021 (dated – 05.08.2021) – SEBI
View PdfAmended notification of the Securities and Exchange Board of India (Prohibition of Insider Trading) (Second Amendment) Regulations, 2021 (dated – 05.08.2021) – SEBI
In the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015,
- In regulation 7D, –
- In sub-regulation (1), –
- The words Upon collection or substantial recovery of the monetary sanctions amounting
- To at least twice the Reward, the‖ shall be substituted with the word The;
- In the first proviso, –
- the words ―collected or recovered‖ shall be omitted;
- the words ―one crore‖ shall be substituted with the words ten crores; the second proviso shall be omitted;
- after sub-regulation (1), a new sub-regulation (1A) shall be inserted, namely, –
- (1A) If the total reward payable is less than or equal to Rupees One Crore, the Board
- may grant the said reward upon the issuance of the final order by the Board:
- Provided that in case the total reward payable is more than Rupees One Crore, the Board
- may grant an interim reward not exceeding Rupees One Crore upon the issuance of the
- final order by the Board and the remaining reward amount shall be paid only upon
- collection or recovery of the monetary sanctions amounting to at least twice the balance
- Reward amount payable.
- In sub-regulation (3) the words the reward‖ shall be substituted with the words any reward, whether interim or otherwise, after regulation 7D, following note shall be inserted.
