Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2016. - SEBI/LAD-NRO/GN/2015-16/037 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 7th March, 2016 Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2016 No. SEBI/LAD/NRO/GN/2015-16/037.- In exercise of the powers conferred by section 31 of the Securities Contracts (Regulation) Act, 1956 read with sections 11 and 30 of the Securities and Exchange Board of India Act, 1992 , the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, namely:- 1. These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2016. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, i. in Regulation 17, in sub-regulation (4), (a) before the words The combined holding , the words and symbol Subject to the limits as otherwise prescribed by the Central Government from time to time, shall be inserted; (b) for the word The appearing before the words combined holding of all persons , the word the shall be substituted; (c) for the words and symbols , subject to the following:- , the symbol : shall be substituted; (d) sub-clauses (a), (b) and (c) shall be omitted; (e) the following proviso shall be inserted, namely: Provided that no foreign portfolio investor shall acquire shares of a recognised stock exchange otherwise than through the secondary market. (f) in Explanation (1) for the words clause (c) , the words sub-regulation (4) shall be substituted; (2) the word institutional wherever appearing shall be substituted with the word portfolio . ii. in Regulation 18, in sub-regulation (4), (a) before the words The combined holding , the words and symbol Subject to the limits as otherwise prescribed by the Central Government from time to time, shall be inserted; (b) for the word The appearing before the words combined holding of all persons , the word the shall be substituted; (c) for the words and symbols , subject to the following: , the symbol : shall be substituted; (d) sub- clauses (a), (b) and (c) shall be omitted; (e) the following proviso shall be inserted, namely: Provided that no foreign portfolio investor shall acquire shares of a recognized clearing corporation otherwise than through the secondary market. iii. in Regulation 23, in sub-regulation (9), for the word institutional , the word portfolio shall be substituted. U.K. SINHA, Chairman [ADVT.-III/4/Exty./692B/398] Footnote: 1. The SC(R)(Stock Exchanges and Clearing Corporations) Regulations, 2012 were published in the Gazette of India on 20th June, 2012 vide F. No. LAD-NRO/GN/2012-13/07/13546. 2. The SC(R) (Stock Exchanges and Clearing Corporations) Regulations, 2012 were subsequently amended (a) on 2nd September, 2013 by the SC(R)(Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2013 vide No. LAD-NRO/GN/2013/14/21/6463. (b) on 8th September, 2015 by the SC(R)(Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2015 vide No. LAD-NRO/GN/2015-16/016. (c) on 11th January, 2016 by the SC(R)(Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2016 vide No. LAD-NRO/GN/2015-16/29.