9911796707
TMI BlogSECURITIES AND EXCHANGE BOARD OF INDIA (ALTERNATIVE DISPUTE RESOLUTION MECHANISM) (AMENDMENT) REGULATIONS, 2023X X X X Extracts X X X X X X X X Extracts X X X X ..... ulations, 1999, Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011, Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, Securities and Exchange Board of India (Research Analysts) Regulations, 2014, Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019, Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020, Securities and Exchange Board of India (Vault Managers) Regulations, 2021, namely, -- 1. These regulations may be called the Securities and Exchange Board of India (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023. 2. They shall come into force on the date of their publication in the Official Gazette. Amendments to the Securities and Exchange Board ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1996, (i) after regulation 59A, the following regulation shall be inserted, namely, -- "Dispute Resolution. 59B. All claims, differences or disputes between the asset management company and investors arising out of or in relation to the activities of the asset management company in the securities market shall be submitted to a dispute resolution mechanism that includes mediation and/or conciliation and/or arbitration, in accordance with the procedure specified by the Board." (ii) in the Fourth Schedule, in clause (vi), after the words "delegated by the asset management company" the words, figures and symbols ", including those in relation to resolution of claims or disputes of investors in terms of regulation 59B," shall be inserted. Amendments to the Securities and Exchange Board of India (Custodian) Regulations 1996 7. In the Securities and Exchange Board of India (Custodian) Regulations, 1996, after regulation 17, the following regulation shall be inserted, namely, -- "Dispute Resolution. 17A. All claims, differences or disputes between a custodian and its client arising out of or in relation to the activities of the custodian in the securities market shall be su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... liation and/or arbitration, in accordance with the procedure specified by the Board." Amendments to the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 11. In the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, regulation 25 shall be substituted with the following, namely, -- "Dispute Resolution. 25. All claims, differences or disputes between investors and the Alternative Investment Fund or the Manager arising out of or in relation to the activities of the Alternative Investment Fund or the Manager in the securities market shall be submitted to a dispute resolution mechanism that includes mediation and/or conciliation and/or arbitration, in accordance with the procedure specified by the Board: Provided that if the Alternative Investment Fund has been established as a trust, then no loss or damage or expenses incurred by the Manager or officers of the Manager, including those in relation to resolution of claims or disputes of investors, shall be met out of the trust property." Amendments to the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 12. In the Securitie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the manager in the securities market shall be submitted to a dispute resolution mechanism that includes mediation and/or conciliation and/or arbitration, in accordance with the procedure specified by the Board. (2) No loss or damage or expenses incurred by the manager or officers of the manager, including those in relation to resolution of claims or disputes of investors, shall be met out of the trust property." Amendments to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 16. In the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, (i) in regulation 40, in sub-regulation (8), the words and symbols ": Provided further that in case of any claim, difference or dispute under this sub-regulation the same shall be referred to and decided by arbitration as provided in the bye-laws and/or regulations of the stock exchange(s)" shall be omitted. (ii) in regulation 67, sub-regulation (5) shall be substituted with the following, namely, -- "(5) All claims, differences or disputes between the listed entity and its investor arising out of or in relation to the a ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
