Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2001. - S.O. No.1058(E) - SEBI/LE/38507/2001 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 6th November, 2001 S.O. No.1058(E).-- In exercise of the powers conferred by sub-section (1) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes he following regulations to amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. 1. These Regulations may be called the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2001. 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 (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 (hereinafter referred to as the Regulations)-- (1) In Regulation 7, (i) after sub-regulation (1), the following shall be inserted, namely: (1A) Any acquirer who has acquired shares or voting rights of a company, under sub-regulation (1) of regulation 11, shall make disclosures of such acquisition as well as the aggregate of his pre and post acquisition of shareholding and voting rights to the company when such acquisition aggregates to 5% and 10% of the voting rights. (ii) in sub-regulation (2), after the words sub-regulation (1) , the words and (1A) shall be inserted. (iii) in sub-regulation (3), (a) after the words referred to in sub-regulation (1), the words and (1A) shall be inserted. (b) after the words information under sub-regulation (1) the words and (1A) shall be inserted. (2) In Regulation 11, in sub-regulation (1) for the number 5% appearing after the words exercise more than the number 10% shall be substituted. [F.No.SEBI/LE/38507/2001] D. R. MEHTA, Chairman Footnote; 1. SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, the principal regulation was published in the Gazette of India on February 20, 1997, vide S.O. No.124(E). 2. Subsequently a Corrigendum was published in the Gazette of India Extraordinary on February 6, 1998, vide S.O. No. 106(E). 3. It was subsequently amended by the SEBI (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 199S which was published in the Gazette of India on October 28, 1998, vide S.O. No. 930(E). 4. It was subsequently amended by the SEBI (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2000 which was published in the Gazette of India on December 30, 2000 vide S.O. No. 1178(E). 5. It was subsequently amended by the SEBI (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2001 on 17th August 2001 vide S.O. No. 791(E). 6. It was subsequently amended by the SEBI (substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2001 on 12th September 2001 vide S.O. No. 875 (E).