SEBI Amends Regulation 33: Updates Procedure for Composition in Settlement Proceedings, Modifying Key Language in 2022.
Regulation 33 of the Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, outlines the procedure for composition. It states that the provisions from Chapters IV to VI and Schedule-II should be applied, with necessary modifications, when determining the terms for processing a compounding application. This regulation was amended by a notification in 2022, changing the language from "arriving at a proposal pursuant to" to "determining the terms while processing."
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