Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018

Chapter: I
PRELIMINARY
Regulation 1	:	Short title and commencement
Regulation 2	:	Definitions
Chapter: II
CONDITIONS OF BUY-BACK
Regulation 3	:	Applicability
Regulation 4	:	Conditions and requirements for buy-back of shares and specified securities
Regulation 5	:	General compliance and filing requirements for buy-back
Chapter: III
BUY-BACK THROUGH TENDER OFFER
Regulation 6	:	Buy-back shares and securities
Regulation 7	:	Disclosures, filing requirements and timelines for public announcement
Regulation 8	:	Disclosures, filing requirements and timelines for draft letter of offer
Regulation 9	:	Offer procedure
Regulation 10	:	Closure and payment to securities holders
Regulation 11	:	Extinguishment of certificate and other closure compliances
Regulation 12	:	Odd-lot buy-back
Chapter: IV
BUY-BACK FROM THE OPEN MARKET
Regulation 13	:	Buy-Back from the open market
Regulation 14	:	Shares or other specified securities from the open market
Regulation 15	:	Amount earmarked for buy-back
Regulation 16	:	Buy-back through stock exchange
Regulation 17	:	Opening of the offer on stock exchange
Regulation 18	:	Subsequent compliances for open market buy-back through stock exchange
Regulation 19	:	Physical form in the open market
Regulation 20	:	Escrow account for open market buy-back through stock exchange
Regulation 21	:	Extinguishment of certificates for open market buy-back through stock exchange
Regulation 22	:	Buy-back through book building
Regulation 22A	:	Disclosures, filing requirements and timelines for public announcement:
Regulation 22B	:	Offer procedure
Regulation 22C	:	Payment to holders of shares or other specified securities
Regulation 22D	:	Retail and Promoter participation
Regulation 22E	:	Methodology of acceptance of bids
Regulation 23	:	Extinguishment of certificates
Chapter: V
GENERAL OBLIGATIONS
Regulation 24	:	Obligations of the company for all buy-back procedure
Regulation 25	:	Obligations of the merchant banker
Chapter: V-A
POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS
Regulation 25A	:	Exemption from enforcement of the regulations in special cases
Chapter: VI
MISCELLANEOUS
Regulation 26	:	Powers of the Board to issue directions
Regulation 27	:	Power of the Board to remove difficulties
Regulation 28	:	Power to relax strict enforcement of the regulations
Regulation 29	:	Repeal and savings
SCHEDULE
Schedule - I	:	Contents of the Explanatory Statement
Schedule - II	:	Disclosures in the Public Announcement for buy-back through tender offer and from the open market through book building process
Schedule - III	:	Disclosures in the Letter of Offer for buy-back through tender offer.
Schedule - IV	:	Public Announcement for Open Market Buy-Back through Stock Exchange
Schedule - V	:	Fees
Schedule - VI	:	Methodlogy to be adopted prior to the opening of an offer