SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 29th July, 2019
SECURITIES AND EXCHANGE BOARD OF INDIA (DELISTING OF EQUITY SHARES) (AMENDMENT) REGULATIONS, 2019
No. SEBI/LAD-NRO/GN/2019/25.— In exercise of the powers conferred by section 31 read with section 21A of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), section 30, sub-section (1) of section 11 and sub- section (2) of section 1 1A 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 (Delisting of Equity Shares) Regulations, 2009, namely, –
1. These regulations may be called the Securities and Exchange Board of India (Delisting of Equity Shares)
(Amendment) Regulations, 2019.
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 (Delisting of Equity Shares) Regulations, 2009, in regulation 3, in sub-regulation (1), after the proviso, the following explanation shall be inserted, namely, –
“Explanation: For the purposes of these regulations, the term “shares” shall include equity shares having superior voting rights.”
AJAY TYAGI, Chairman
[ADVT.-III/4/Exty./ 162/19]
Footnotes:
1. The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009, were published in the Gazette of India on June 10, 2009, vide notification No. LAD-NRO/GN/2009-2010/09/165992.
2. The Principal Regulations were subsequently amended on –
a. October 8, 2013 by the Securities and Exchange Board of India (Listing of Specified Securities on Institutional Trading Platform) Regulations, 2013 vide notification No. LAD-NRO/GN/2013- 14/28/6720.
b. March 24, 2015 by the Securities and Exchange Board of India (Delisting of Equity Shares) (Amendment) Regulations, 2015 vide notification No. LAD-NRO/GN/2014-15/27/541.
c. August14, 2015 by the Securities and Exchange Board of India (Delisting of Equity Shares) (Second Amendment) Regulations, 2015 vide notification No. SEBI/LAD-NRO/GN/2015-16/010.
d. January 12, 2016 by the Securities and Exchange Board of India (Delisting of Equity Shares) (Amendment) Regulations, 2016 vide notification No. SEBI/LAD-NRO/GN/2015-16/30.
e. March 6, 2017 by the Securities and Exchange Board of India (Payment of fees and mode of payment) (Amendment) Regulations, 2017 vide notification No. SEBI/LAD-NRO/GN/2016-17/037.
f. June 1, 2018 by the Securities and Exchange Board of India (Delisting of Equity Shares) (Amendment) Regulations, 2018 vide notification No. SEBI/LAD-NRO/GN/2018/23.
g. November 14, 2018 by the Securities and Exchange Board of India (Delisting of Equity Shares) (Second Amendment) Regulations, 2018 vide notification No. SEBI/LAD-NRO/GN/2018/46.
