SEBI (Credit Rating Agencies) (Amendment) Regulations, 2010 – Gazette Notification dated March 19, 2010

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....losed a copy of the Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2010 published in the Gazette of India dated March 19, 2010 for your information and implementation. Yours faithfully, Prasanta Mahapatra Deputy General Manager Tel. No: 022-26449313 Email id : [email protected] Encl: as above THE GAZETTE OF INDIA EXTRAORDINARY PART - III - SEC....

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....te. 3. In the Securities and Exchange Board of India (Credit Rating Agencies) Regulation, 1999: - (i) in regulation 2, in sub-regulation (1), after clause (e), the following clauses shall be inserted, namely:- '(ei) "change of status or constitution" in relation to a credit rating agency - (i) means any change in its status or constitution of whatsoever nature; and (ii) without prejudice ....

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.... Explanation: For the purpose of sub-clause (ii), the expression "controlling interest" means an interest, whether direct or indirect, to the extent of at least fifty-one per cent of voting rights in the body corporate;' (ii) in regulation 9, in sub-regulation (1), after clause (b), the following clause shall be inserted, namely:- "(c) where the credit rating agency proposes to change its st....