Removal of maximum fine cap: regulator ordered deletion of prescribed cap to allow fines based on violation gravity.
Regulator directed deletion of the words "not exceeding Rs. *25,000" from Article 29 after "assistant" and before "in any of the events following", removing the fixed monetary ceiling so that fines may be imposed depending on the nature and gravity of the violation; this direction followed the exchange's failure to amend Article 29 within the prescribed sixty-day period.

Board-authorised buyback: new notice and filing requirements plus specified disclosure obligations under the buyback framework.
A new regulation 5A permits buybacks authorised by a Board resolution, subject to: publication within two days of a public notice in one English national daily, one Hindi national daily and one regional language daily at the place of the registered office; inclusion of disclosures as specified in Schedule I; and filing a copy of the Board resolution with the Board and the stock exchanges within two days of passing the resolution.

Self-clearing member regulation introduces net worth and deposit requirements and extends clearing rules to self-clearing members.
The amendment creates a defined category of self-clearing member-a clearing corporation or clearing house member who clears and settles only its own and its clients' transactions and not for other trading members-and integrates that category across the regulations. Applicants must meet existing sub-regulatory requirements plus a prescribed minimum net worth and deposit with the clearing corporation or house. Provisions applicable to clearing members are extended mutatis mutandis to self-clearing members, forms and schedules are revised to include the category, option turnover computation rules are clarified, and an annual fee obligation is imposed.

Renewal of recognition granted to stock exchange under Securities Contracts (Regulation) Act for a fixed regulatory term.
Renewal of recognition is granted to the Inter Connected Stock Exchange of India Ltd. under the Securities Contracts (Regulation) Act, 1956, following an application under Section 3 and exercise of powers under Section 4. Recognition is renewed for a specified three year term authorising contracts in securities, subject to conditions that may be prescribed or imposed subsequently, and reflecting regulatory oversight tied to public and trade interest.

Renewal of recognition permits Cochin Stock Exchange to operate for a further year subject to regulatory conditions.
Renewal of recognition to Cochin Stock Exchange Limited is granted under the Securities Contracts (Regulation) Act, 1956 for the period 8 November 2001 to 7 November 2002, following an application and SEBI's satisfaction that renewal is in the interest of trade and the public; recognition is subject to the conditions stated in the notification or as may be prescribed or imposed subsequently.

Disclosure obligations: Acquirers must report acquisitions under regulation 11 when holdings hit specified thresholds.
The amendment adds sub-regulation (1A) to Regulation 7 requiring any acquirer who has acquired shares or voting rights under Regulation 11(1) to disclose that acquisition and the aggregate of pre- and post-acquisition shareholding and voting rights to the company when such acquisition aggregates to specified thresholds. It inserts references to (1A) into sub-regulations (2) and (3) of Regulation 7 and substitutes a higher percentage in Regulation 11(1) for the phrase "exercise more than", thereby raising the trigger level for the action in Regulation 11.

Tribunal recruitment framework: deputation preference with specified qualifications, age limits, probation and reservation safeguards applied.
Prescribes a structured recruitment regime for Securities Appellate Tribunal posts, setting classifications, pay scales and primary methods of appointment-principally deputation/absorption from Central/State Government services and courts/tribunals, with promotion channels and direct recruitment only where deputation or promotion is not available. Specifies educational and experience qualifications, age limits, probationary periods, initial constitution provisions crediting prior service, disqualification on certain marital statuses subject to exemption, a power to relax rules by the Central Government, and preservation of statutory reservations and concessions.

Renewal of recognition for a stock exchange under SCRA grants a one-year authorization subject to regulatory conditions.
SEBI grants renewal of recognition to Mangalore Stock Exchange Limited under Section 4 of the Securities Contracts (Regulation) Act, 1956 for one year commencing September 9, 2001 and ending September 8, 2002, in respect of contracts in securities, subject to conditions as may be prescribed or imposed hereafter.

Public Sector Undertaking acquisition: takeover restrictions waived when sale agreement provides reversion and government penalty for noncompliance.
Where a public announcement under the proviso to Regulation 14(1) follows a Share Purchase or Shareholders' Agreement with the Central Government for acquisition of a PSU, certain restrictions on director appointments, acting under agreements, transfers of securities and board changes do not apply if the sale agreement contains a reversion clause vesting shares or control back to the Central Government on non-compliance and provides for Central Government-imposed penalties; no competitive bid announcement may follow such an acquirer's announcement.

Employee service regulations establish statutory authority to prescribe terms and conditions of employment for board staff.
The Board, exercising powers under section 30 of the Securities and Exchange Board of India Act, 1992, issues regulations defining the terms and conditions of service for its employees, establishing a statutory framework for employment governance and administrative control over staff service rules.

Renewal of recognition under the Securities Contracts (Regulation) Act: Mangalore Stock Exchange authorised for a one-year term pending conditions.
Renewal of recognition under the Securities Contracts (Regulation) Act renews Mangalore Stock Exchange Limited's authorisation to deal in contracts in securities for a specified term, subject to conditions that may be prescribed or imposed thereafter and contingent on ongoing regulatory compliance.

Name substitution in SEBI-related notification: Shri V. K. Dhall replaces Shri V. Govindarajan under statutory amendment.
The amendment replaces the name Shri V. Govindarajan with Shri V. K. Dhall in notification No. 195(E) dated 9 March 1992, effected under the powers conferred by section 3 read with clause (b) of sub-section (1) of section 4 of the enabling statute and issued as a further amendment dated 22 August 2001.

Disinvestment of Public Sector Undertaking triggers single public-announcement regime with special pricing, disclosure and reversion conditions.
Amendments add definitions of disinvestment and Public Sector Undertaking, permit a single public announcement across successive acquisition stages where the acquirer and seller remain the same and disclosures are made in the first announcement and letter of offer, require the merchant banker to announce within four working days of execution of the Share Purchase or Shareholders' Agreement, set the relevant price-determination date as the day before the Central Government announces the successful bidder, provide an infrequently traded shares test tied to six month turnover under two percent, allow reversion clauses to the Central Government for non-compliance, and prohibit further public announcements after the Central Government enters into the sale agreement.

Appointment of SEBI board member: substitution names a Reserve Bank representative as SEBI Member under statutory authority.
Amendment under section 3 read with section 4 of the SEBI Act substitutes the entry at serial number 3 in the principal notification, naming "Shri G.P. Muniappan, Member" and identifying him as Deputy Governor, Reserve Bank of India, by notification S.O. 704(E) dated 25th July, 2001.

Procedure for Board Meetings establishes framework for convening, conducting and recording board meetings under statutory authority.
SEBI, exercising power under section 30 of the Securities and Exchange Board of India Act, 1992, promulgated the Securities and Exchange Board of India (Procedure for Board Meetings) Regulations, 2001, establishing that board meeting procedures-covering convening, conduct and recording of minutes-are governed by regulations issued under SEBI's statutory authority and noting the notification date and filing reference.

Foreign Venture Capital Investor terminology and officer definitions updated, aligning regulations and appeals reference to appellate tribunal.
Amendments revise the 2000 Regulations by inserting definitions for an enquiry officer and an inspection or investigation officer, substituting occurrences of "fund" and "venture capital fund" with "investor" or "foreign venture capital investor" across specified provisions, removing certain terminal conjunctions in regulation 4, changing wording in regulations 8 and 11, renaming regulation 29's heading to "Appeal to Securities Appellate Tribunal", and substituting "investor" for "fund" in Form B of the First Schedule.

Public offer conditions: mandatory book building and institutional allocation required for qualifying public listings under amended rules.
Amendment sets revised conditions for public offers to qualify for listing: a company must offer a minimum portion of each class of securities to the public by newspaper advertisement and allot applications subject to specified thresholds for minimum securities and overall offer size, and the issue must be made only through the book building method with a prescribed allocation to qualified institutional buyers. Failing these conditions, a larger minimum portion must be offered. Exchanges may relax conditions for Government Companies with SEBI approval, and certain public sector and national institution subscriptions are excluded from the public offer computation.

Renewal of recognition of a stock exchange granted subject to conditions, permitting continuance of contracts in securities.
Renewal of recognition is granted to the Uttar Pradesh Stock Exchange Association Limited under the Securities Contracts (Regulation) Act, 1956, authorising the Exchange to transact contracts in securities for the one-year period commencing 3 June 2001 and ending 2 June 2002, subject to the conditions specified in SEBI's referenced communication and any further conditions that may be prescribed or imposed.

Investment advice disclosure required: intermediaries must reveal personal, family and employer positions when advising in public media.
The amendments require specified market intermediaries to appoint a compliance officer tasked with monitoring legal and regulatory compliance, addressing investor grievances and immediately reporting observed non-compliance to the Board. They also prohibit intermediaries and their employees from giving investment advice in publicly accessible media unless they disclose their interests, including long or short positions in the security; employees must also disclose dependent family members' and the employer's interests and positions when rendering such advice.

Board membership eligibility: disciplinary suspension or registration cancellation bars members from governing roles for a fixed period.
The direction adds clauses making members suspended from trading or whose broker registration is suspended ineligible to continue on or be elected to the Governing Board for two years from expiry of suspension, and barring members with cancelled registration from Governing Board membership. It also disqualifies persons notified under the statute on offences relating to securities transactions from continuing on or being elected to the Governing Board for two years from de notification.