MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 3rd August, 2018
G.S.R. 738(E).—In exercise of the powers conferred by section 30 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Central Government hereby makes the following rules further to amend the Securities Contracts (Regulation) Rules, 1957, namely:—
1. Short title and commencement.—
(1) These rules may be called as Securities Contracts (Regulation) (Second Amendment) Rules, 2018.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Securities Contracts (Regulation) Rules, 1957, in rule 19A,—
(i) in sub-rule (1), for the proviso, the following proviso shall be substituted:—
“Provided that every listed public sector company which has public shareholding below twenty five per cent on the commencement of the Securities Contracts (Regulation)(Second Amendment) Rules, 2018, shall increase its public shareholding to at least twenty five-per cent, within a period of two years from the date of such commencement, in the manner specified by the Securities and Exchange Board of India.”;
(ii) in sub-rule (2), the following proviso shall be inserted:—
“Provided that every listed public sector company whose public shareholding falls below twenty five per cent. at any time after the commencement of the Securities Contracts (Regulation) (Second Amendment) Rules, 2018, shall increase its public shareholding to at least twenty five per-cent, within a period of two years from such fall, in the manner specified by the Securities and Exchange Board of India.”
[F. No. 5/35/CM/2006 Volume-III]
Dr. SHASHANK SAKSENA, Adviser (FSRL)
Note : The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3 vide notification number S.R.O. 576, dated the 21st February, 1957 and subsequently amended vide notification numbers as under:
(1) G.S.R. 1096, dated the 14th July, 1967;
(2) G.S.R. 685, dated the 3rd June, 1972;
(3) G.S.R. 959, dated the 8th August, 1972;
(4) G.S.R. 2641, dated the 1st November, 1975;
(5) G.S.R. 1083, dated the 11th November, 1985;
(6) G.S.R. 666(E), dated the 20th July, 1987;
(7) G.S.R. 1070(E), dated the 15th November, 1988;
(8) G.S.R. 870(E), dated the 13th November, 1992;
(9) G.S.R. 617(E), dated the 20th September, 1993
(10) G.S.R. 749(E), dated the 12th October, 1994;
(11) G.S.R. 790(E), dated the 7th November, 1994;
(12) G.S.R. 121(E), dated the 9th March, 1995;
(13) G.S.R. 291(E), dated the 27th March, 1995;
(14) G.S.R. 581(E), dated the 23rd December, 1996;
(15) G.S.R. 654(E), dated the 8th August, 2000;
(16) G.S.R. 655(E), dated the 8th August, 2000;
(17) G.S.R. 415(E), dated the 7th June, 2001;
(18) G.S.R. 696(E), dated the 28th August, 2003;
(19) G.S.R. 395(E), dated the 10th June, 2009;
(20) G.S.R. 469(E), dated the 4th June, 2010;
(21) G.S.R. 662(E), dated the 9th August, 2010;
(22) G.S.R. 705 (E), dated the 24th October, 2013;
(23) G.S.R. 21(E), dated the 16th January, 2014;
(24) G.S.R. 611 (E), dated the 22nd August, 2014;
(25) G.S.R. 682 (E), dated the 19th September, 2014;
(26) G.S.R. 819(E), dated the 18th November, 2014;
(27) G.S.R. 125(E), dated the 25th February, 2015;
(28) G.S.R. 268(E), dated the 20th March, 2017;
(29) G.S.R. 664(E), dated the 27th June, 2017;
(30) G.S.R. 822(E), dated the 3rd July, 2017 and
(31) G.S.R. 675(E), dated the 25th July, 2018.
