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of <h1>Regulation 47: 1997 Rules Validate Actions Under Repealed 1994 Securities and Exchange Regulations; Pending Cases Transitioned</h1> Regulation 47 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, repeals the 1994 regulations. Despite this repeal, actions or proceedings initiated under the 1994 regulations, such as approvals, exemptions, fees, adjudications, investigations, or show-cause notices, are considered valid under the 1997 regulations. Additionally, any pending applications or appeals made under the 1994 regulations are treated as if made under the 1997 regulations.
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