Securities and Exchange Board of India (Intermediaries) (Second Amendment) Regulations, 2024.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... called the Securities and Exchange Board of India (Intermediaries) (Second 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 (Intermediaries) Regulations, 2008, regulation 30A shall be substituted with the following regulation, namely, - "Summary Proceedings 30A (1). Notwithstanding anything contained in these regulations, the procedure as provided under this regulation shall be applied to - (a) the stock broker or a clearing member, in respect of which intimation has been received by the Board from all the stock exchange(s) or the clearing corporation(s), as the case may be, of which it was ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... notice issued under sub-regulation (2) shall require the noticee to make submission(s), if any, within twenty-one calendar days from the date of receipt of the notice, only through a written response, along with documentary evidence, if any, as to why the certificate of registration granted under the Act and the regulations made thereunder shall not be cancelled or suspended: Provided that the competent authority may, for the reasons to be recorded, permit the noticee to submit a written response within a further period not exceeding fifteen calendar days. (4) No further opportunity beyond the timelines specified in sub-regulation (3) shall be allowed. (5) After considering the facts and circumstances of the case....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s or pending action, if any; (f) such other conditions in the interest of investors or the client(s) of the noticee or the securities market. (10) On and from the date of cancellation of the certificate of registration, the noticee shall forthwith - (a) return to the Board the certificate of registration so cancelled, if the same has been issued in the physical form and shall not represent itself to be a holder of the certificate for any purpose; (b) cease to carry on any activity in relation to which the certificate had been granted; (c) transfer its activities to another person holding a valid certificate of registration to carry on such activity or allow its clients or investors to withdraw or....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2008, vide notification No. LAD-NRO/GN/2008/20/134766. b) July 14, 2009 by the Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2009, vide notification no. LAD-NRO/GN/2009-10/12/169546. c) January 7, 2014 by the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014, vide notification no. LAD-NRO/GN/2013-14/36/12. d) May 25, 2016 by the Securities and Exchange Board of India (Intermediaries) (Amendment) Regulations, 2016, vide notification no. SEBI/LAD-NRO/GN/2016-17/006. e) November 21, 2017, by the Securities and Exchange Board of Indi....