Securities And Exchange Board Of India (Depositories And Participants) Amendment Regulations, 1997

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 25 of the Depositories Act, 1996 (22 of 1996) the Board hereby makes the following regulations to amend the securities and Exchange Board of India (Depositories and Participants) Regulations, 1996. 1. (i) These regulations may be called the Securities and Exchange Board of India (Depositories and Participants) A....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ther as a sponsor or as a participant or as a sponsor and participant together shall hold more than 20% of the equity capital of a Depository". Explanation :-For the purpose of this regulation, a foreign entity shall mean a body corporate or an entity where more than 51% of its equity is held by persons who are not citizens of India. (c) (i) In clause (vii) of sub-regulation (a) of Regulatio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....erialise the securities". (e) in sub-regulation (I) of regulation 38 after clause (c) a new clause (cc) shall be added as follows : (cc) details of the holdings of the securities of the beneficial owners as at the end of each day. (f) in sub-regulation (3) of Regulation 58, the following amendments shall be made ; (i) after the words "through the participant" and before the words "if i....