SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, the 30th March, 2021

SECURITIES AND EXCHANGE BOARD OF INDIA (UNDERWRITERS) (REPEAL) REGULATIONS, 2021

No. SEBI/LAD-NRO/GN/2021/15.In exercise of the powers conferred under Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to repeal the Securities and Exchange Board of India (Underwriters) Regulations, 1993, namely: –

1. These regulations may be called the Securities and Exchange Board of India (Underwriters) (Repeal) Regulations, 2021.

2. They shall come into force on the date of their publication in the Official Gazette.

3. On and from the commencement of these regulations, the Securities and Exchange Board of India (Underwriters) Regulations, 1993 shall stand repealed and the certificate of registration granted to any person under the Securities and Exchange Board of India (Underwriters) Regulations, 1993 shall deemed to be surrendered.

4. The repeal of the Securities and Exchange Board of India (Underwriters) Regulations, 1993 shall not affect—

(i) the previous operation of the said regulations or anything done or omitted to be done or suffered therein;

(ii) any right, privilege, obligation or liability acquired or accrued or incurred under the said regulations;

(iii) any penalty or punishment incurred in respect of any contravention or offence committed under the said regulations;

(iv) any investigation, legal proceedings or remedy in respect of any such right, privilege, obligation, liability, penalty or punishment as aforesaid.

5. Any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty or punishment may be imposed as if the Securities and Exchange Board of India (Underwriters) Regulations, 1993 had not been repealed.

AJAY TYAGI, Chairman

[ADVT.-III/4/Exty./569/2020-21]

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