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Securities and Exchange Board of India (Registrar to Issue and Share Transfer Agents) Amendment Regulations, 1997. - S.O. No.660(E) - SEBI/LE/2005/9/97 - SEBIExtract SECURITIES AND EXCHANGE BOARD OF INDIA Mumbai, the 17th September, 1997 S.O. 660(E).- In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act (15 of 1992) the Board hereby makes the following regulations further to amend the Securities and Exchange Board of India (Registrar to Issue and Share Transfer Agents) Regulations, 1993 : 1. Short Title and Commencement .-(i) These regulations may be called the Securities and Exchange Board of India (Registrar to Issue and Share Transfer Agents) Amendment Regulations, 1997. (ii) They shall come into force on the date of their notification in the official gazette. 2. After regulation 13, a new regulation 13A may be added as follows : 13 A. Registrar to an issue not to act as such for an associate.- No registrar to an issue shall act as such registrar for any issue of securities in case he or it is an associate of the body corporate issuing the securities . Explanation : For the purposes of this regulation, a registrar to an issue or the body corporate, as the case may be shall be deemed to be an associate of the other where :- (a) he or it controls directly or indirectly not less than 10 per cent of the voting power of the body corporate or of the registrar to an issue, as the case may be; or (b) he or any of his relative is a director of the body corporate or of the registrar to an issue, as the case may be. The term 'relative' shall have the same meaning as is assigned to it under section 6 of the Companies Act, 1956. [F. No. SEBI/LE/2005/9/97] D. R. MEHTA, Chairman Footnote : 1. The principal regulation SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 was published in Official Gazette of India on May 31,1993 vide No. SEBI/LE/5/93. 2. It was subsequently amended on November 28,1995 by SEBI (Payment of Fees) Amendment Regulations, 1995 vide S.O. No. 939(E).
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