TaxTMI 
TaxTMI 
Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2024.
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....e 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 (b) shall be substituted with the following, namely,- "(b) the ....
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....tions, 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 manager shall agree to manage or be associated with any issue unless its responsibilities relating to the issue particularly, those of disclosures, allotment and refund are clearly defined, alloca....
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....r (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, the existing sub-regulation (3) shall be substituted with the following sub-regulation, namely,- "(3) A merchant banker, if called upon, pursuant to an agreement for underwriting to subscribe to the securities of a body corporate, shall subscribe to the said securities prior to the finalisation....
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...., 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) in clause (34), in sub-clause (b), the word "his" shall be substituted with the word "its". BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./727/2024-25] Footnotes: 1. The Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 was published in the Gazette of India on December 22, 1992 vide No. LE/11112/92. 2. The Securities and Exchange Board of India (Merchant Bankers) Regulatio....
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....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); xii. on October 1, 2003 by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2003 vide No. S.O. 1154(E); xiii. on March 10, 2004 by the Securities and Exchange Board of India (Criteria for Fit and Proper Person) Regulations, 2004 vide S.O. No. 398(E); xiv. on April 18, 2006 by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2006 vide No. S.O. 560 (E); xv. on May 3,2006by the Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 2006 vide No....
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....ations, 2011 vide Notification No. LAD-NRO/GN/2011-12/17/26149; xxv. on March 29, 2012 by the Securities and Exchange Board of India (Merchant Bankers)(Amendment) Regulations, 2012vide Notification No. LAD-NRO/GN/2011-12/40/7335; xxvi. on May 23, 2014 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2014 vide Notification No. LAD-NRO/GN/2014-15/03/1089; xxvii. on December 8, 2016 by the Securities and Exchange Board of India (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2016 vide Notification No. SEBI/LAD/NRO/GN/ 2016-17/023; xxviii. on March 29, 2017 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regu....