Securities And Exchange Board Of India (Foreign Institutional Investors) (Amendment) Regulations, 1999. - S.O. No.263(E) - SEBI/LE/964/99 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 16th April, 1999 S.O. 263(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 the following regulations to further amend the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995, namely : 1. (i) These regulations may be called the Securities and Exchange Board of India (Foreign Institutional Investors) (Amendment) Regulations, 1999. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995, (hereinafter referred to as the regulations),- (i) in regulation 15, in sub-regulation (3), in clause (c), after the second proviso, the following proviso shall be added, namely : Provided further that in case of an offer by a company to buy back its securities, the foreign institutional investor, may sell the securities held by it to such company, in accordance with Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998. (ii) in the Second Schedule, for the existing clause (3), the following clause shall be substituted, namely : (3) The registration fee specified above shall be payable by the applicant by a draft in favour of Securities and Exchange Board of India or by any other appropriate mode or instrument as may be specified by the Board. [F. No. SEBI/LE/964/99] D. R. MEHTA, Chairman Footnote :- 1. SEBI (Foreign Institutional Investors) Regulations, 1995 the principal regulation was published in the Gazette of India on November 14, 1995, vide No. SEBI/LE/918(E). 2. SEBI (Foreign Institutional Investors) Regulations, 1995 was subsequently amended- (a) on October 9,1996 by the SEBI (Foreign Institutional Investors) (Amendment) Regulations, 1996 vide S.O. No. 702(E). (b) on November 19, 1996 by the SEBI (Foreign Institutional Investors) (Second Amendment) Regulations, 1996 vide S.O. No. 799(E). (c) on February 12,1997 by the SEBI (Foreign Institutional Investors) Amendment Regulations, 1997 vide S.O. No. 105(E). (d) on July 10, 1997 by the SEBI (Foreign Institutional Investors) Amendment Regulations, 1997 vide S.O. No. 495(E). (e) on December 5, 1997 by the SEBI (Foreign Institutional Investors) (Third Amendment) Regulations, 1997 vide S.O. No. 823(E). (f) on April 20, 1998 by the SEBI (Foreign Institutional Investors) (Amendment) Regulations, 1998 vide S.O. No. 333(E). (g) on May 18, 1998 by the SEBI (Foreign Institutional Investors) (Second Amendment) Regulations, 1998 vide S.O. No. 417(E). (h) on June 30,1998 by the SEBI (Foreign Institutional Investors) (Third Amendment) Regulations, 1998 vide S.O. No. 545(E).