Regulation 3 - Registration as underwriter - Securities and Exchange Board of India (Underwriters) Regulations, 1993

CHAPTER II REGISTRATION OF UNDERWRITERS 1 [Registration as underwriter. 3. (1) No person shall act as underwriter unless he holds a certificate granted by the Board under these regulations. (2) Notwithstanding anything contained in sub-regulation (1), every stock broker or merchant banker holding a valid certificate of registration under section 12 of the Act, shall be entitled to act as an underwriter without obtaining a separate certificate under these regulations. (3) A stock broker or merchant banker acting as an underwriter under sub-regulation (2) shall be governed by these regulations in other respects.] ****** 1 Inserted by the SEBI (Underwriters) (Amendment) Regulations, 2006, w.e.f.7-9-2006.