Amended notification of the Security and Exchange Board of India (Bankers to ad Issue) (Amendment) Regulations, 2021 (dated – 30.07.2021) – SEBI
View PdfAmended notification of the Security and Exchange Board of India (Bankers to ad Issue) (Amendment) Regulations, 2021 (dated – 30.07.2021) – SEBI
- This notification has come into effect from 30.07.2021.
- In regulation 2,
- clause (aa) shall be substituted with the following, namely
- banker to an issue‖ means a scheduled bank or such other banking company as may be specified by the Board from time to time, carrying on any of the activities, including :—
- acceptance of application and application monies;
- acceptance of allotment or call monies;
- refund of application monies;
- payment of dividend or interest warrants;”
- In clause (ab), the words and symbols clause (7) of section 2 of the Companies Act, 1956 (1 of 1956)” shall be replaced with the words and symbols clause (11) of section 2 of the Companies Act, 2013 (18 of 2013)”.
- In clause (ae), in sub-clause (i), the words and symbols regulation 12 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997” shall be replaced with the words and symbols regulations framed under clause (h) of sub-section (2) of section 11 of the Act”.
- In regulation 3, in sub-regulation (1), the words by scheduled bank” shall be omitted.
- In regulation 6, in clause (c), after the words scheduled bank”, the words or such other banking company as specified by the Board‖ shall be inserted.
- regulation 22 shall be substituted with the following, namely :
- The Board shall, after consideration of inspection or investigation report, take such action as it may deem fit and appropriate including action under Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.”
