Para 23 - Commencement of the Guidelines - SEBI (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines, 1999

23. Commencement of the Guidelines: [1] [23.1 These guidelines shall come into force with effect from 19th June, 1999 and will be applicable to the options/ shares granted/allotted on or after 19th June, 99 unless otherwise specified in the Guidelines.] ******** [1] Substituted vide circular no. SEBI/PMD/MBD/ESOP/2/2003/30/06 dated June 30, 2003, w. e. f. June 30, 2003. Prior to its substitution, clause 23.1 read as under: 23.1 These guidelines shall come into force w. e. f. 19th June, 1999.