Sponsored
    Follow Us:
Sponsored

The Securities and Exchange Board of India (SEBI) issued the Securities and Exchange Board of India (Attestation of Documents) (Amendment) Regulations, 2024, effective from its publication in the Official Gazette. These amendments simplify the attestation process across multiple SEBI regulations by replacing notarized or sworn affidavits with self-attestation. Key changes include updates to forms and filings under the Custodian Regulations (1996), Credit Rating Agencies Regulations (1999), Substantial Acquisition of Shares and Takeovers Regulations (2011), KYC Registration Agency Regulations (2011), Buy-back of Securities Regulations (2018), Depositories and Participants Regulations (2018), Settlement Proceedings Regulations (2018), Delisting of Equity Shares Regulations (2021), and Index Providers Regulations (2024). These changes aim to enhance efficiency and reduce compliance burdens for market participants by eliminating the need for notary or affidavit support in documents. Instead, applicants must now provide self-attested documents for various applications and forms submitted to SEBI. The amendments reflect SEBI’s ongoing efforts to streamline processes and make regulatory compliance more accessible.

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, the 28th November, 2024

SECURITIES AND EXCHANGE BOARD OF INDIA (ATTESTATION OF DOCUMENTS) (AMENDMENT) REGULATIONS, 2024

F. No. SEBI/LAD-NRO/GN/2024/212.—In exercise of the powers conferred by section 21A, section 23JA and section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), section 11, section 11A, section 12, section 15JB and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), section 19-IA and section 25 of the Depositories Act, 1996 (22 of 1996), and clause (f) of sub-section (2) of section 68 of the Companies Act, 2013 (18 of 2013), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Custodian) Regulations, 1996, Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999, Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011, Securities and Exchange Board of India (Buy-back of Securities) Regulations 2018, Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, Securities and Exchange Board of India (Index Providers) Regulations, 2024, namely:–

1. These regulations may be called the Securities and Exchange Board of India (Attestation of Documents) (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 (Custodian) Regulations, 1996, in the First Schedule, in Form A, in clause x, the words “attested as true by an authorised notary” shall be substituted with the words “self-attested”.

4. In Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999, in the First Schedule, in Form A, in clause 1, the words “attested as true by a notary public” shall be substituted with the words “self-attested”.

5. In Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, in regulation 11, in sub-regulation (3),

(1) the words “supported by a duly sworn affidavit,” shall be deleted; and

(2) before the words “application with the Board”, the word “an” shall be substituted with the word “a” and the word “self-attested” shall be inserted.

6. In Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011, in Schedule I, in Form A, in clause 1, the words “attested as true by a notary public” shall be substituted with the words “self-attested”.

7. In Securities and Exchange Board of India (Buy-back of Securities) Regulations 2018, in regulation 28, in clause (ii),

(1) the words “supported by a duly sworn affidavit,” shall be deleted; and

(2) before the words “application with the Board”, the word “an” shall be substituted with the word “a” and the word “self-attested” shall be inserted.

8. In Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, in the First Schedule,

(1) in Form A, in clause x, the words “attested as true by an authorised notary” shall be substituted with the words “self-attested”;

(2) in Form C, in clause ix, the words “attested as true by an authorised notary” shall be substituted with the words “self-attested”; and

(3) in Form F, in clause x, the words “attested as true by an authorised notary” shall be substituted with the words “self-attested”.

9. In Securities and Exchange Board of India (Settlement Proceedings) Regulations, 2018, in Part C of Schedule-I,

(1) the words “and duly notarized at the time of execution” shall be deleted; and

(2) before the words “application with stamp duty”, the word “self-attested” shall be inserted.

10. In Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021, in regulation 42, in sub-regulation (2), the words “supported by a duly sworn affidavit” shall be substituted with “which shall be self-attested”.

11. In Securities and Exchange Board of India (Index Providers) Regulations, 2024, in Schedule I, in Form A, in clause 1, the words “attested as true by a notary public” shall be substituted with the words “self-attested”.

BABITHA RAYUDU, Executive Director

[ADVT.-III/4/Exty./723/2024-25]

Sponsored

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Ads Free tax News and Updates
Sponsored
Search Post by Date
December 2024
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031