TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2022
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.... Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003, namely: - 1. These regulations may be called the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Amendment) Regulations, 2022. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003, - I. In regulation 2, sub-regulation (2) shall be substituted with the following, namely- "(2) The words and expressions used and not defined in these regulations but defined in t....
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....by the Central Government for an order for the seizure of any books, registers, other documents and record, if in the course of investigation, the Investigating Authority has reasonable ground to believe that such books, registers, other documents and record of, or relating to, any intermediary or any person associated with securities market in any manner may be destroyed, mutilated, altered, falsified or secreted; (9) to keep in his custody the books, registers, other documents and record seized under these regulations for such period not later than the conclusion of the investigation as he considers necessary and thereafter to return the same to the person, the company or the other body corporate, or, as the case may be, to the managing....
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.... or, as the case may be, allow the Investigating Authority or any person authorized by him in this behalf to take computer print-outs thereof." VI. In regulation 11, sub-regulation (2) shall be substituted with the following, namely- "(2) Any final order passed under sub- regulation (1) shall be put on the website of the Board." VII. Regulation 11A shall be substituted with the following, namely- "Manner of service of summons and notices issued by the Board. 11A. (1) A summons or notice issued by the Board under these regulations shall be served on the person through any of the following modes, namely- (a) by delivering or tendering it to that person or his duly authorised agent; or (b) by sending it to the person by fax or elec....
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....rs, one of which shall be in an English daily newspaper having nationwide circulation and another shall be in a newspaper having wide circulation published in the language of the region where that person was last known to have resided or carried on business or personally worked for gain." VIII. In regulation 12, i. in sub-regulation (1), the words and symbols "the provisions contained in sub-sections (1), (2), (2A) and (3) of section 11 and section 11B of the Act" shall be substituted with the words and symbol "any action under the securities laws or directions or circulars issued thereunder"; ii. in proviso to sub-regulation (1), the words and symbols "(Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations....