Regulation 36 - Exemption from the operations of Chapter III. - Securities And Exchange Board of India(Substantial Acquisition of Shares And Takeovers) Regulations, 1997

Exemption from the operations of Chapter III. 36. (1) Every offer which has been made in pursuance of regulation 30 shall be accompanied with an application to the Board for exempting such acquisitions from the provisions of Chapter III of these regulations. (2) For considering such request the Board may call for such information from the company as also from the lead institution, in relation to the manner of vetting the offers evaluation of such offers and similar other matters. (3) Notwithstanding grant of exemption by the Board, the lead institution or the acquirer as far as may be possible, shall adhere to the time limits specified for various activities for public offer specified in Chapter III.