TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2024.
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....1992, namely, - 1. These regulations may be called the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2024. 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 (Merchant Bankers) Regulations, 1992, - I. In regulation 6, - (i) the words "for considering the grant of a certificate" appearing after the words "into account" shall be omitted; (ii) the word "relating" appearing after the words "relevant to the activities" shall be substituted with the words "of a"; (iii) after the word "particular", the symbol and word ", whether" shall be inserted; (iv) the existing clause ....
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....uted with the following proviso, namely,- "Provided further that a merchant banker, that has been granted a certificate of registration under these regulations, shall ensure market making in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018."; (iii) in clause (ii) of the Explanation, the words, symbols and figures "section 4A of the Companies Act, 1956 (1 of 1956)" shall be substituted with the words, symbols and figures "sub-section (72) of section 2 of the Companies Act, 2013". IV. The existing regulation 20 shall be substituted with the following regulation, namely,- "Responsibility of the lead manager. 20. No lead manag....
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....e" and before the words "of this regulation" shall be substituted with the word "purpose"; b. clause (iii) shall be substituted by the following clause, namely, "(iii) there is a common director - (a) in the issuer and the merchant banker; or (b) in the issuer's subsidiary or holding company and the merchant banker: Provided that this clause shall not be applicable where the director concerned is a nominee director: Provided further that this clause shall not be applicable where the director concerned is an independent director subject to recusal by the said independent director in respect of the issue from the boards of both issuer and merchant banker." VI. In regulation 22B, t....
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....ating to" and before the words "activities as a merchant banker", shall be substituted with the word "its". (ii) in sub-regulation (2), the word "his" shall be substituted with the word "its". XI. In regulation 34, - a. in the marginal heading, the word "the" shall be inserted after the word "of" and before the word "auditor"; b. in the Explanation thereto, the words, symbols and figures "given in section 226 of the Companies Act, 1956 (1 of 1956)" shall be substituted with the words, symbols and figures "provided in section 141 of the Companies Act, 2013". XII. In Schedule III, (i) in clause (23), in sub-clause (a), the word "his" shall be substituted with the word "their". (ii....
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....e No. S.O. 799 (E); viii. on November 17, 1999 by the Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 1999 vide No. S.O. 1119 (E); ix. on March 28, 2000 by the Securities and Exchange Board of India (Appeal to the Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide No. S.O. 278 (E); x. on May 29, 2001 by the Securities and Exchange Board of India (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide No. S.O. 476 (E); xi. on September 27, 2002 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide No. S.O. 1045 (E); ....
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....xi. on April 13, 2010 by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2010 vide Notification No. LAD-NRO/GN/2010-11/04/1109; xxii. on April 19, 2011 by the Securities and Exchange Board of India (Change in Conditions of Registration of Certain Intermediaries)(Amendment) Regulations, 2011vide Notification No. LAD/ NRO/GN/ 2011-12/03/12650; xxiii. on July 5, 2011 by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2011 vide Notification No. LAD-NRO/GN/2011-12/09/21233; xxiv. on August 16, 2011 by the Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 2011 vide Notification N....