Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 1999. - S.O. No.1119(E) - SEBI/LE/21136/99 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 17th November, 1999 S.O.1119(E).- In exercise of powers conferred by sub-section (1) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby makes the following regulations further to amend the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, namely: 1. (i) These regulations shall be called the Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 1999. (v) They shall come into force on the date of their publication in the Official Gazette. 2. In the Securities and Exchange Board of India (Merchant Banker) Regulations 1992 (hereinafter referred to as the regulations), - a) in regulation 6, in clause (a), a proviso shall be added, namely: Provided that the merchant banker who has been granted registration by the Reserve Bank of India to act as a Primary or Satellite Dealer may carry on such activity subject to the condition that it shall not accept or hold public deposit. b) in regulation 13 A, a proviso shall be added, namely: Provided that a merchant banker who has been granted certificate of registration to act as primary or satellite dealer by Reserve Bank of India, may carry on such business as may be permitted by the Reserve Bank of India. [F. No. SEBI/LE/21136/99] D.R. MEHTA, Chairman Foot Note : 1. The principal regulations Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 was published in Official Gazette of India on 22 nd December, 1992 vide F.No.20/15/SE/92. 2. The Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 was subsequently amended: (a) on 7th September, 1995 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1995 vide S.O. No. 396 (E); (b) on November 28, 1995 by Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 1995 vide S.O.939(E); (c) on June 6,1996 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1996 vide F.No. SEBI/LE-I/9/95; (d) on December 9, 1997 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1997 vide S.O.No. 837(E); (e) on January 21, 1999 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1999 vide S.O. No.74(E). (I) on September 30, 1999 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1999 vide S.O. No.799(E).