Securities lending permitted: foreign institutional investors may lend securities through approved intermediaries under the stock lending scheme.
Amendment adds dated Government securities to Regulation 15(1) and inserts Regulation 15(8) authorising a Foreign Institutional Investor or sub account to lend securities through an approved intermediary in accordance with the Board's stock lending scheme.

Recognition renewal for a stock exchange under securities regulation granted, subject to prescribed conditions and regulatory oversight.
SEBI renewed recognition of the National Stock Exchange of India Limited for a further five-year term commencing in April 1998, granting authority to deal in contracts in securities while expressly subjecting the renewal to conditions that SEBI may prescribe or impose from time to time.

Regulatory amendment corrects SEBI takeover rules by replacing a year reference in Regulation 47(1).
The corrigendum to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 directs that in sub regulation (1) of Regulation 47 the year '1993' shall be read as '1994', as notified 6 February 1998.

Prescribed mutual fund percentage limit corrected to a lower figure in the Seventh Schedule, amending the prior regulation.
Corrigendum to the SEBI (Mutual Funds) Regulations, 1998: the figure appearing in sub clause (c) of Clause 9 of the Seventh Schedule (para 28(ii), Part II) is corrected from thirty percent to twenty five percent, amending the published regulation by replacing the prior numeric prescription.

Government securities exemption: issuers not required to enter depository agreements and some depository rules do not apply.
Amendments add Government Securities references and exempt the State or Central Government as issuer from requirements to enter agreements with depositories; they exempt depository-issuers from agreement requirements, remove certain information obligations where Government securities are issued by the State or Central Government, require daily reconciliation of dematerialised Government securities, and add an express exclusion of the chapter's application to the State or Central Government as issuer.

Corporate conversion fee exemption preserves prior paid fees if former member serves as whole-time director and retains required shareholding.
An amendment to Schedule III grants a fee exemption to corporate entities formed by converting an individual or partnership exchange membership, allowing them to be exempt from fees for the period already paid by the erstwhile member, provided the erstwhile individual or partner becomes the whole-time Director and retains at least 40% of the paid-up equity capital for a minimum of three years from conversion. The amendment is effective on publication in the Official Gazette and is made under the Board's statutory power.

Registration renewal exemption for merchant bankers temporarily relaxes compliance, with non securities business prohibition deferred until after transition.
The amendment creates a time limited exemption for renewal applicants by suspending the applicability of clause (a) of Regulation 6 to renewals until a specified transitional cut off and clarifies that the prohibition on conducting business other than in the securities market under Regulation 13A will apply only after that transitional cut off; the regulation takes effect on publication in the Official Gazette.

Related party investment controls tightened: new caps, reporting and independent trustee oversight requiring disclosure and de materialised settlement.
SEBI amended the Mutual Funds Regulations to strengthen governance and related party controls: ''group'' is defined; applicants and asset management companies must be "fit and proper"; two thirds of trustees must be independent and must comment on sponsor group investments. Limits and reporting obligations restrict dealings through sponsor associated brokers, cap investments in group companies across schemes, prohibit unlisted and privately placed associate securities, require quarterly trustee reports and enhanced scheme disclosures, mandate de materialised settlement for large funds, and permit securities lending under the Board's scheme.

Fit and proper person standard introduced for underwriter eligibility, expanding regulatory criteria upon Gazette commencement.
The 1998 amendment to the Securities and Exchange Board of India (Underwriters) Regulations adds a new clause to regulation 6 specifying that an underwriter "is a fit and proper person." Promulgated under the Board's powers in the SEBI Act, the Securities and Exchange Board of India (Underwriters) Amendment Regulations, 1998 take effect on publication in the Official Gazette and thus expand the eligibility criteria for underwriters to include the fit and proper standard.

Fit and proper person requirement added for portfolio manager applicants, making applicant suitability a formal condition for registration.
The amendment to the Portfolio Managers Regulations, 1993 inserts clause (gg) into regulation 6, making the applicant's status as a fit and proper person an explicit condition for registration as a portfolio manager; the amendment is made under the SEBI Act and takes effect on publication in the Official Gazette.

Fit and proper person requirement added to Venture Capital Funds regulations, making fitness and propriety a condition of applicant eligibility.
Amendment adds a fitness and propriety threshold to regulation 4 by inserting new sub clause (v) in clause (a): "it is a fit and proper person," and a matching sub clause (v) in clause (b): "the applicant is a fit and proper person," making fitness and propriety a condition of eligibility; the amendment takes effect on publication in the Official Gazette.

Fit and proper person requirement added to depository participant eligibility, making applicant suitability a formal condition for registration.
Addition of a fit and proper person requirement as an explicit eligibility criterion in the Depositories and Participants regulations, inserting new clauses in regulation 6 and regulation 19 so that applicants must satisfy a suitability standard of integrity, competence and reliability as a predicate to registration.

Fit and proper requirement added to custodian of securities regulations, tightening applicant eligibility upon Gazette notification.
SEBI inserts a new clause (gg) into sub regulation (1) of regulation 6 of the Custodian of Securities Regulations, requiring that the applicant is a fit and proper person; the amendment is made under the Board's statutory authority and comes into force on publication in the Official Gazette.

Fit and proper person requirement for debenture trustees introduced, making suitability a statutory condition upon Gazette notification.
The amendment inserts a new clause requiring debenture trustees to be fit and proper persons, thereby adding an explicit eligibility condition to the Securities and Exchange Board of India (Debenture Trustees) Regulations; the change is made by notification under the Board's rule-making power and takes effect on publication in the Official Gazette.

Fit and proper person requirement added for bankers to an issue, mandating applicant suitability for registration.
The amendment adds clause (cc) to regulation 6 of the SEBI (Bankers to an Issue) Regulations, 1994, requiring that the applicant "is a fit and proper person," thereby making applicant suitability a formal prerequisite for bankers to an issue.

Fit and proper person requirement introduced for registrars and share transfer agents, affecting registration eligibility.
Amendment inserts clause (g) into regulation 6 of the principal Regulations, requiring that a registrar to an issue and a share transfer agent "is a fit and proper person," thereby making that suitability requirement an express eligibility criterion; the notification is made under section 30(1) of the enabling Act and comes into force upon publication in the Official Gazette.

Fit and proper person requirement added to broker and sub broker registration rules, conditioning eligibility for licensing.
The amendment inserts an explicit fit and proper person requirement into the registration rules: a new clause in regulation 5 and a new sub clause in clause (i) of sub regulation 5 of regulation 11 require that applicants be fit and proper persons as a condition of registration.