GAZETTE OF INDIA

EXTRA-ORDINARY

PART II – SECTION 3- SUB-SECTION (ii)

PUBLISHED BY AUTHORITY

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, 21st August, 2006

SECURITIES AND EXCHANGE BOARD OF INDIA

(SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS)

(SECOND AMENDMENT) REGULATIONS, 2006

S.O No. 1330 (E). 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 (Substantial Acquisition of Shares and Takeovers) Regulations, 1997, namely :-

1. These Regulations may be called the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Second Amendment) Regulations, 2006.

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 (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 –

i) in regulation 3, in sub-regulation (5), for the figures and letters “Rs.10,000”, the words “twenty five thousand rupees” shall be substituted;

ii) in regulation 4, in sub-regulation (3), for the figures and letters “Rs.25,000”, the words “one lakh rupees” shall be substituted;

iii) in regulation 18, for sub-regulation (3), the following sub-regulation shall be substituted, namely:-

“(3) The acquirer shall, while filing the draft letter of offer with the Board under sub-regulation (1), pay a fee as mentioned in the following table, by bankers’ cheque or demand draft drawn in favour of the ‘Securities and Exchange Board of India’, payable at Mumbai:

Offer size Fee (Rs.)
Less than or equal to one crore rupees 1,00,000
More than one crore rupees, but less than or equal to five crore rupees 2,00,000
More than five crore rupees, but less than or equal to ten crore rupees 3,00,000
More than ten crore rupees 0.5% of the offer size”

F.No. SEBI/LAD/DOP/ 2108 /2006

DAMODARAN

CHAIRMAN

SECURITIES AND EXCHANGE BOARD OF INDIA

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