Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Amendment Rules, 2000. - F. No. 1/25/SE/98-G.S.R. 655(E) - SEBI

MINISTRY OF FINANCE (Department of Economic Affairs) (Capital Markets and External Commercial Borrowings Division) NOTIFICATION New Delhi, the 8th August, 2000 G.S.R. 655(E).- In exercise of the powers conferred by section 30 of the Securities Contracts (Regulation) Act, 1956, (42 of 1956), the Central Government hereby amends the Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Rules, 2000, namely:- 1. (1) These rules may be called the Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Amendment Rules, 2000. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Rules, 2000,- (i) for the heading 1. Definitions , the following shall be substituted, 2. Definitions ; (ii) in the re-numbered rule 2, for clause (b), the following shall be substituted, namely:- (b) appeal means appeal filed under section 22A of Act or under sub-rule (5) of rule 19 or sub-rule (5) of rule 20 of the Securities Contracts (Regulation) Rules, 1957; (iii) rule 3 may be re-numbered as sub-rule (1) of rule 3, after sub-rule (1) as so re-numbered, the following shall be inserted, namely:- (2) Every appeal shall be filed within a period of forty five days from the date on which a copy of the order, against which the appeal is filed, of a recognised stock exchange withdrawing admission to dealings or suspending admission to dealings which continues for a period exceeding three months in any security/units or other instruments of a collective instrument scheme , as defined under the Securities and Exchange Board of India Act, 1992 (15 of 1992), is received by the appellant: Provided that the Appellate Tribunal may entertain an appeal after the expiry of the period of forty five days if it is satisfied that there was sufficient cause for not filing it within that period. [F. No. 1/25/SE/98] DR. J. BHAGWATI, Jt. Secy. Note.- The principle notification was issued under G.S.R. 144 (E), dated the 18th February, 2000 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 18th February, 2000.