GAZETTE OF INDIA
EXTRA-ORDINARY
PART III – SECTION 4
PUBLISHED BY AUTHORITY
NEW DELHI, TUESDAY, MAY 29, 2007
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 28th May, 2007
SECURITIES AND EXCHANGE BOARD OF INDIA
(SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS)
(AMENDMENT) REGULATIONS, 2007
No. 11/LC/GN/2007/2519 – In exercise of the powers conferred by 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 (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, namely :-
1.These Regulations may be called the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2007.
2.They shall come into force on the date of their publication in the Official Gazette.
3.i n the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, in regulation 18, for sub-regulation (3), the following sub-regulation shall be substituted, namely:-
“(3) The acquirer shall, while filing the draft letter of offer with the Board under sub-regulation (1), pay a fee as mentioned in the following table, by bankers’ cheque or demand draft drawn in favour of the ‘Securities and Exchange Board of India’, payable at Mumbai:
| Offer size | Fee (Rs.) |
| Less than or equal to one crore rupees. | One lakh rupees (Rs. 1,00,000/-). |
| More than one crore rupees, but less than or equal to five crore rupees. | Two lakh rupees (Rs. 2,00,000/-). |
| More than five crore rupees, but less than or equal to ten crore rupees. | Three lakh rupees (Rs. 3,00,000/-). |
| More than ten crore rupees, but less than or equal to one thousand crore rupees. | 0.5% of the offer size. |
| More than one thousand crore rupees, but less than or equal to five thousand crore rupees. | Five crore rupees (Rs. 5,00,00,000/-) plus 0.125% of the portion of the offer size in excess of one thousand crore rupees (Rs.1000,00,00,000/-). |
| More than five thousand crore rupees. | Ten crore rupees (Rs.10,00,00,000/-).” |
[ADVT. III/4/69ZB/2007/Exty.]
DAMODARAN
CHAIRMAN
SECURITIES AND EXCHANGE BOARD OF INDIA
