Amendment in the Securities and Exchange Board of India (Procedure for Holding Inquiry and imposing penalties by adjudicating officer) Rules, 1995 - G.S.R. 430(E) - SEBI

MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 28th May, 2015 G.S.R. 430(E).- In exercise of the powers conferred by clause (da) of sub-section (2) of section 29 of the Securities and Exchange Board of India Act, 1992, (15 of 1992) , the Central Government hereby makes the following rules further to amend the Securities and Exchange Board of India (Procedure for Holding Inquiry and imposing penalties by adjudicating officer) Rules, 1995 , namely :- 1 (1). These rules may be called the Securities and Exchange Board of India (Procedure for Holding Inquiry and imposing penalties by adjudicating officer) Amendment Rules, 2015. (2) They shall come into force on the date of their publication in the Official Gazette. 2 In the Securities and Exchange Board of India (Procedure for Holding Inquiry and imposing penalties by adjudicating officer) Rules, 1995 , in rule 7 , - (a) in clause (b),- (i) after the words by sending it to the person by , the words fax or electronic mail or courier or speed post with acknowledgement due or shall be inserted; (ii) the following provisos shall be inserted, namely,- Provide that a notice sent by Fax shall bear a note that the same is being sent by fax and in case the document contains annexure, the number of pages being sent shall also be mentioned: Provided further that a notice sent through electronic mail shall be digitally signed by the competent authority and bouncing of the electronic mail shall not constitute valid service. (b) after clause (c), the following clause shall be inserted, namely,- (d) if it cannot be affixed on the outer door as per clause (c), by publishing the notice in atleast two newspapers, one in a English daily newspaper having nationwide circulation, and another in a newspaper having wide circulation published in the language of the region where that person was last known to have resided or carried on business or personally worked for gain. [F. No. 5/11/CM/2006] MANOJ JOSHI, Jt. Secy. (Financial Markets)