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Regulatory authority substitution: SEBI replaces Central Government references in securities rules, shifting administrative functions to the Board. The amendment substitutes the Securities and Exchange Board of India for the Central Government across numerous provisions of the Securities Contracts (Regulation) Rules, 1957, including rules 3, 5A, 7(1), 8, 11, 12, 16, 17, 17A and related provisos. Rule 19 is revised to substitute the Board in multiple sub-rules and to replace clause (m)(1) with an acknowledgement card or receipt of filing the offer document with the Board. Forms A, B and C are amended to reflect the Board's name and seal, and a new Form C provides a Board-issued show-cause notice template for withdrawal of recognition.
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Regulatory authority substitution: SEBI replaces Central Government references in securities rules, shifting administrative functions to the Board.
The amendment substitutes the Securities and Exchange Board of India for the Central Government across numerous provisions of the Securities Contracts (Regulation) Rules, 1957, including rules 3, 5A, 7(1), 8, 11, 12, 16, 17, 17A and related provisos. Rule 19 is revised to substitute the Board in multiple sub-rules and to replace clause (m)(1) with an acknowledgement card or receipt of filing the offer document with the Board. Forms A, B and C are amended to reflect the Board's name and seal, and a new Form C provides a Board-issued show-cause notice template for withdrawal of recognition.
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