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TMI BlogSecurities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2024.X X X X Extracts X X X X X X X X Extracts X X X X ..... 1. These regulations may be called the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2024. 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 (Merchant Bankers) Regulations, 1992 , I. In regulation 6 , - (i) the words for considering the grant of a certificate appearing after the words into account shall be omitted; (ii) the word relating appearing after the words relevant to the activities shall be substituted with the words of a ; (iii) after the word particular , the symbol and word , whether shall be inserted; (iv) the existing clause (b) shall be substituted with the following, namely,- (b) the applicant has in its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. ; (iii) in clause (ii) of the Explanation, the words, symbols and figures section 4A of the Companies Act, 1956 (1 of 1956) shall be substituted with the words, symbols and figures sub-section (72) of section 2 of the Companies Act, 2013 . IV. The existing regulation 20 shall be substituted with the following regulation, namely,- Responsibility of the lead manager. 20. No lead manager shall agree to manage or be associated with any issue unless its responsibilities relating to the issue particularly, those of disclosures, allotment and refund are clearly defined, allocated and determined and a statement specifying such responsibilities is disclosed in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able where the director concerned is a nominee director: Provided further that this clause shall not be applicable where the director concerned is an independent director subject to recusal by the said independent director in respect of the issue from the boards of both issuer and merchant banker. VI. In regulation 22B , the existing sub-regulation (3) shall be substituted with the following sub-regulation, namely,- (3) A merchant banker, if called upon, pursuant to an agreement for underwriting to subscribe to the securities of a body corporate, shall subscribe to the said securities prior to the finalisation of the basis of allotment. VII. The existing regulation 27 shall be substituted with the following regulation, namely, - 27. A merch ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Companies Act, 2013 . XII. In Schedule III, (i) in clause (23), in sub-clause (a), the word his shall be substituted with the word their . (ii) in clause (34), in sub-clause (b), the word his shall be substituted with the word its . BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./727/2024-25] Footnotes: 1. The Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 was published in the Gazette of India on December 22, 1992 vide No. LE/11112/92. 2. The Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 was amended i. on September 7, 1995 by the Securities and Exchange Board of India (Merchant Bankers) Amendment Regulations, 1995 vide No. SEBI/LE/1/9/95; ii. on November 28, 1995 by the Securi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ties and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2003 vide No. S.O. 1154(E); xiii. on March 10, 2004 by the Securities and Exchange Board of India (Criteria for Fit and Proper Person) Regulations, 2004 vide S.O. No. 398(E); xiv. on April 18, 2006 by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2006 vide No. S.O. 560 (E); xv. on May 3,2006by the Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 2006 vide No. S.O. 640 (E); xvi. on September 7, 2006 by the Securities and Exchange Board of India (Merchant Bankers) (Third Amendment) Regulations, 2006 vide No. S.O. 1448 (E); xvii. on May 28, 2007 by the Securities and Exchange Board of In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 14 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2014 vide Notification No. LAD-NRO/GN/2014-15/03/1089; xxvii. on December 8, 2016 by the Securities and Exchange Board of India (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2016 vide Notification No. SEBI/LAD/NRO/GN/ 2016-17/023; xxviii. on March 29, 2017 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations,2017vide Notification No. SEBI/LAD-NRO/GN/2016-17/38; xxix. on April 17, 2020 by the Securities and Exchange Board of India(Regulatory Sandbox) (Amendment) Regulations, 2020 vide Notification No. SEBI/LAD-NRO/GN/2020/10; xxx. On March 30, 2021 by th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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