Securities And Exchange Board of India (Substantial Acquisition of Shares And Takeovers) Amendment Regulations, 1998.

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....by sub-section (1) of Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 : I.(i) These regulations may be called the Securities and Exchange Board of India (Substantial Acquisition of Shares and Tak....

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....ing after the words "to exercise" and before the words "per cent or more" the word "fifteen" shall be substituted. (4) In regulation 11- (a) in sub-regulation (1), (i) for the words and figures "not less than 10% but not more than 51%", the words and figures, "15% or more but less than 75%", shall be substituted. (ii) for the figure "2%" appearing after the words "exercise ....

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.... to the closure of the offer." (6) In regulation 22- (a) in sub-regulation (16), for the figure '10%', appearing after the word 'beyond', the figure 15% shall be substituted. (b) in sub-regulation (17), for the words "after the date of public announcement" appearing after the words "any shares" and before the words "he, shall disclose", the words "in terms of sub-regulation (4) of regulat....