Regulation 14 - Buy-back from open market - Securities and Exchange Board of India (Buy Back Of Securities) Regulations, 1998

CHAPTER IV BUY-BACK FROM THE OPEN MARKET Buy-back from open market 14. (1) A company intending to buy-back its 1 [shares or other specified securities] from the open market shall do so in accordance with the provisions of this Chapter. (2) The buy-back of 2 [shares or other specified securities] from the open market may be in any one of the following methods : (a) through stock exchange, (b) book-building process. 3 [(3) The company shall ensure that atleast fifty per cent of the amount earmarked for buy-back, as specified in resolutions referred to in regulation 5 or regulation 5A, is utilized for buying-back shares or other specified securities.] ******** 1 Substituted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 2004 w.e.f. 18-06-2004 for the words specified securities , which had earlier been substituted for the word shares by the SEBI (Buy-back of Securities) (Amendment) Regulations, 1999, w.e.f. 21-09-1999. 2 Substituted by the SEBI (Buy-back of Securities) (Amendment) Regulations, 2004 w.e.f. 18-06-2004 for the words specified securities , which had earlier been substituted for the word shares by the SEBI (Buy-back of Securities) (Amendment) Regulations, 1999, w.e.f. 21-09-1999. 3 Inserted by SEBI (Buy-back of Securities) (Amendment) Regulations, 2013 w.e.f. 08-08-2013.