Securities And Exchange Board Of India (Procedure For Holding Enquiry By Enquiry Officer And Imposing Penalty) (Amendment) Regulations, 2006. - S.O. No.1348(E) - SEBI/LAD/DOP/2108/2006 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, 21st August, 2006 S.O. No.1348(E).- In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, namely :- 1. These Regulations may be called the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Amendment) Regulations, 2006. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002- (a) in regulation 6, sub-regulation (1) shall be substituted with the following, namely: (1) Where an Enquiry Officer is appointed, he shall, if he finds reasonable grounds to do so, issue a show cause notice to the intermediary concerned calling upon it to show cause as to why further action should not be taken against it under these Regulations, specifying therein the nature of the contraventions alleged to have been committed by him. (b) in regulation 15, clause (i) shall be omitted; (c) in regulation 16, in sub-regulation (1), the second proviso shall be omitted. F.No. SEBI/LAD/DOP/2108/2006 Foot Notes :- 1. Securities and Exchange Board of India(Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, were notified in the Gazette of India on 27.9.2002 vide S.O. No. 1045(E). The Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 were subsequently amended- a. On November 27, 2003 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Amendment) Regulations, 2003 vide F. No.SEBI/LAD/DOP/22093/2003). b. On December 30, 2003 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Second Amendment) Regulations, 2003 vide F. No. SEBI/LAD/DOP/24418/2003. c. On July 13, 2004 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Amendment) Regulations, 2004 vide F. No. SEBI/LAD/DOP/ 14982/2004. d. On September 2, 2004 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Second Amendment) Regulations, 2004 vide S.O.No.997(E). e. On January 6, 2005 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Amendment) Regulations, 2005 vide S.O.No.28(E). f. On June 7, 2005 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Second Amendment) Regulations, 2005 vide S.O.No. 779(E). 3. A. corrigendum was issued regarding the amendment notification at (e) and (f) of 2 above vide S.O. No. 1333(E).