prpri SEBI : (Issue of Capital and Disclosure Requirements) Second Amendment Regulations, 2013 SEBI : (Issue of Capital and Disclosure Requirements) Second Amendment Regulations, 2013

THE GAZETTE OF INDIA

EXTRAORDINARY

PART – III – SECTION 4

PUBLISHED BY AUTHORITY

NEW DELHI, AUGUST 26, 2013

SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION

Mumbai, the 26th August, 2013

SECURITIES AND EXCHANGE BOARD OF INDIA

(ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS)
(SECOND AMENDMENT) REGULATIONS, 2013

No. LAD-NRO/GN/20 13-14/19/6422.─ 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 (Issue of Capital and Disclosure Requirements) Regulations, 2009, namely:-

1. These regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2013.

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 (Issue of Capital and Disclosure Requirements) Regulations, 2009, –

(i) In regulation 73,-

(a) in clause (e) of sub-regulation (1), after the words “the identity of” and before the words “the proposed allottees”, the following words shall be inserted, namely,-

“the natural persons who are the ultimate beneficial owners of the shares proposed to be allotted and/or who ultimately control” ;

(b) in clause (e) of sub-regulation (1), for the semicolon, the symbol “:” shall be substituted;

(c) after clause (e) of sub-regulation (1), the following proviso shall be inserted, namely,-

“Provided that if there is any listed company, mutual fund, bank or insurance company in the chain of ownership of the proposed allottee, no further disclosure will be necessary.”

(ii) After sub-regulation (3) of regulation 74, the following sub-regulation and Explanation shall be inserted, namely,-

“(4) Allotment shall only be made in dematerialised form.

Explanation.-The requirement of allotment in dematerialised form shall also be applicable for the equity shares to be allotted pursuant to exercise of option attached to warrant or conversion of convertible securities.”

(iii) After sub-regulation (4) of regulation 77, the following sub-regulations shall be inserted, namely,-

“(5) The issuer shall ensure that the consideration of specified securities, if paid in cash, shall be received from respective allottee’s bank account.

(6) The issuer shall submit a certificate of the statutory auditor to the stock exchange where the equity shares of the issuer are listed stating that the issuer is in compliance of sub-regulation (5) and the relevant documents thereof are maintained by the issuer as on the date of certification.”

(iv) In regulation 78, –

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