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Date: 2019-05-08 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act

Issued by Securities and Exchange Board of India · Not Applicable

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Executive Summary & Key Takeaways

Executive Summary: This document contains the Securities and Exchange Board of India (SEBI) Employees' Service Amendment Regulations, 2019, which amends the 2001 regulations. It comes into force on the date of its publication in the Official Gazette. The amendment concerns house allowance and medical claims for employees, especially female employees availing special hardship leave. Key Points / Main Content: * **General Information:** * These regulations are called the Securities and Exchange Board of India Employees' Service Amendment Regulations, 2019. * The regulations are issued under Section 30 of the Securities and Exchange Board of India Act, 1992. * The regulations come into force on the date of their publication in the Official Gazette. * **Amendment to Regulation 36A(5)(a):** * Adds "and claims for medical treatment availed in India" after "house allowance." * Explanation of medical treatment claims includes medical insurance, claims from the Medical Assistance Fund, non-policy medical claims, eye refraction, and annual health checkups. * **Amendment Regarding Female Employees and Special Hardship Leave:** * A female employee who resigns or voluntarily retires during or within five years of resuming office after special hardship leave is liable to repay the house allowance and medical claims paid during the leave. * The competent authority may waive this payment based on documentary evidence, examination, and certification by the Board's Medical Officer if the leave was due to health grounds and prevents the employee from resuming office. Impact Analysis: * **SEBI Employees:** * Impact: Changes to house allowance and medical claim rules, especially regarding special hardship leave. Female employees availing special hardship leave may be liable to repay allowances and medical claims under certain conditions. * Action Required: Understand the revised rules regarding house allowance and medical claims, especially concerning special hardship leave. Female employees considering resignation or voluntary retirement after such leave should be aware of potential repayment obligations. * **Securities and Exchange Board of India:** * Impact: Implementing and enforcing the amended regulations. * Action Required: Update internal policies and procedures to reflect the new regulations. Ensure proper documentation and processes are in place for managing special hardship leave and potential repayment of allowances and medical claims. * **Board's Medical Officer:** * Impact: Responsibility for examination and certification of medical conditions related to special hardship leave. * Action Required: Provide thorough and accurate medical assessments to support decisions regarding waivers for repayment of allowances and medical claims. * **Competent Authority:** * Impact: Responsible for approving waivers for repayment of allowances and medical claims related to special hardship leave. * Action Required: Develop criteria and processes for evaluating waiver requests, ensuring fair and consistent application of the regulations.

Key Entities Referenced

Securities and Exchange Board of India: Regulatory body in India for securities and commodity market. Securities and Exchange Board of India Act, 1992: The act of parliament that established the Securities and Exchange Board of India and conferred legal powers upon it. Securities and Exchange Board of India Employees' Service Regulations, 2001: The principal regulations governing the service conditions of the employees of Securities and Exchange Board of India. Securities and Exchange Board of India Employees' Service Amendment Regulations, 2019: The amendment regulations to the Securities and Exchange Board of India Employees' Service Regulations, 2001. Official Gazette: A gazette is an official journal i.e. a newspaper of record. It is used to publish public notifications. Medical Assistance Fund: A fund providing financial assistance for medical treatment to Securities and Exchange Board of India Employees. Ajay Tyagi: Chairman of the Securities and Exchange Board of India. Mumbai, Maharashtra: The city where the Securities and Exchange Board of India is headquartered.
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L.-33004/99 vlk/kj.k EXTRAORDINARY Hkkx III—[k.M 4 PART III—Section 4 izkf/dkj ls izdkf'kr PUBLISHED BY AUTHORITY la- 153] ubZ fnYyh] cq/okj] ebZ 8] 2019@oS'kk[k 18] 1941 No. 153] NEW DELHI, WEDNESDAY, MAY 8, 2019/VAISAKHA 18, 1941 भभभभााााररररततततीीीीयययय (cid:1)(cid:1)(cid:1)(cid:1)ििििततततभभभभििूूििूू तततत औऔऔऔरररर ििििववववििििननननममममयययय बबबबोोोोडडडड(cid:9)(cid:9) (cid:9)(cid:9) अअअअििििधधधधससससचचूूचचूू ननननाााा मु(cid:3)बई,,,, 8 मई,,,, 2019 भभभभााााररररततततीीीीयययय (cid:1)(cid:1)(cid:1)(cid:1)ििििततततभभभभििििूूूू तततत औऔऔऔरररर ििििववववििििननननममममयययय बबबबोोोोडडडड (cid:9)(cid:9) (cid:9)(cid:9) (ककककममममचच(cid:9)(cid:9)चच(cid:9)(cid:9) ााााररररीीीी ससससववेेववेे ाााा)))) ((((ससससशशशशंंंं ोोोोधधधधनननन)))) ििििववववििििननननययययमममम, 2222000011119999 सससस..ंं..ंं ससससबबेेबबेे ीीीी////एएएएलललल....एएएए....डडडडीीीी....----एएएएनननन....आआआआरररर....ओओओओ....////जजजजीीीी....एएएएनननन....////2222000011119999////11115555.—बोड,,(cid:8),, भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) अिधिनयम,,,, 1992 (1992 का 15) क(cid:15) धारा 30 (cid:16)ारा (cid:9)द(cid:19) शि(cid:21)य(cid:23) का (cid:9)योग करते (cid:25)ए,,,, एत(cid:27)ारा भारतीय (cid:9)ितभूित और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) िविनयम, 2001 का और संशोधन करने के िलए िन िलिखत िविनयम बनाता ह,,,,ै अथा(cid:8)त,,्,,---- 1111.... इन िविनयम(cid:23) को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2019 कहा जा सकेगा। 2222.... वे राजप) म* उनके (cid:9)काशन क(cid:15) तारीख को (cid:9)व(cid:19)ृ (लाग)ू ह(cid:23)गे । 3333.... भारतीय (cid:9)ितभूित और िविनमय बोड (cid:8)(कम(cid:8)चारी सेवा) िविनयम, 2001 म,,*,, ---- (1) िविनयम 36क म,,*,, उप-िविनयम (5) म,,*,,---- क. खंड (क) म,,*,, श.द और िच/न ““““मकान भ(cid:19) ेको छोड़कर;;;;”””” िन िलिखत श.द(cid:23),,,, िच/न(cid:23) और 0प1ीकरण स े (cid:9)ित0थािपत हो जाएंगे,,,, अथा(cid:8)त,,्,, ““““मकान भ(cid:19) ेऔर भारत म *कराए गए िच3क4सीय इलाज (उपचार) के दाव(cid:23) को छोड़कर: (cid:16)(cid:16)(cid:16)(cid:16)पपपप(cid:18)(cid:18)(cid:18)(cid:18)ीीीीककककररररणणणण::::---- इस खंड के (cid:9)योजनाथ,,(cid:8),, िच3क4सीय इलाज (उपचार) के दाव(cid:23) म* िच3क4सा (मिे डकल) बीमा,,,, िच3क4सा सहायता िनिध (मिे डकल अिससट*स फंड) स े दावे,,,, िच3क4सा दावे (पॉिलसी दाव(cid:23) स े इतर),,,, ने) जाँच और वा7षक(cid:8) 0वा09य जाँच शािमल ह;;;;:”””” 2389 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4] ख. मौजूदा खंड (झ) के प;ात,,्,, िन िलिखत नया खंड अतं ः0थािपत 3कया जाएगा,,,, अथा(cid:8)त,,,,---- ““““((((झक) जो मिहला कम(cid:8)चारी क>ठनाई हते ु िवशेष छुAी क(cid:15) अविध के दौरान या ऐसी छुAी लने े के बाद 3फर से कायभ(cid:8) ार Cहण करने के बाद पाँच वषD के भीतर 4यागप) दके र या 0वैिFछक सेवािनवृि(cid:19) लके र बोड (cid:8)क(cid:15) सेवाG को छोड़ती ह,,,,ै वह मिहला कम(cid:8)चारी ऐसी छुAी के दौरान अदा 3कए गए मकान भ(cid:19)े क(cid:15) पूरी रकम तथा िच3क4सा संबधं ी दाव(cid:23) हते ु अदा क(cid:15) गई परू ी रकम के बराबर क(cid:15) रकम बोड (cid:8) को अदा करने क(cid:15) दायी होगी: परंत ु यह 3क जHरी द0तावेजी सबूत(cid:23) के आधार पर,,,, बोड (cid:8) के िच3क4सा अिधकारी (मिे डकल ऑ3फसर) (cid:16)ारा क(cid:15) गई जाँच-पड़ताल के आधार पर और बोड (cid:8)के िच3क4सा अिधकारी (cid:16)ारा (cid:9)मािणत 3कए जान ेके आधार पर,,,, सJम (cid:9)ािधकारी क(cid:15) मंजरू ी (के अनमु ोदन) के बाद,,,, उस मिहला कम(cid:8)चारी को उपरो(cid:21) रकम अदा करने स े छूट दी जा सकेगी,,,, िजसन े 0वयं के 0वा09य संबंधी आधार(cid:23) पर (अपनी अ0व0थता के आधार पर) क>ठनाई हेत ु िवशषे छुAी ली हो और उसी वजह स े वह 3फर स े काय(cid:8)भार Cहण न कर पा रही हो;;;;”””” अजय 4यागी, अNयJ [िव(cid:3)ापन- III/4/असा./37/19] पपपपाााादददद (cid:20)(cid:20)(cid:20)(cid:20)टटटट(cid:22)(cid:22)(cid:22)(cid:22)पपपपणणणण :::: 1. भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8)(कम(cid:8)चारी सेवा) िविनयम, 2001, का.आ. स.ं 857(अ),,,, 6 िसत(cid:3)बर 2001 को भारत के राजप) म* (cid:9)कािशत (cid:25)ए थ े। 2222.... वे त4प;ात ्- (क) 23 3दस(cid:3)बर 2003 को भारतीय (cid:9)ितभिू त और िविनमय बोड(cid:8) (कम(cid:8)चारी सेवा) (सशं ोधन) िविनयम, 2003, फा.सं. भा(cid:9)िवबो/िविध/15/2003,,,, (cid:16)ारा (ख) 25 मई 2004 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2004, का.आ. सं. 623(अ),,,, (cid:16)ारा (ग) 11 अ(cid:9)ैल 2007 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2007, फा.सं. 11////एल सी/जी एन/2006/2143, (cid:16)ारा (घ) 14 जनवरी 2010 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2010, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन./ 2009-10/28/190983,,,, (cid:16)ारा (ङ) 12 अ(cid:21)ूबर 2010 को भारतीय (cid:9)ितभूित और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (दसू रा संशोधन) िविनयम,,,, 2010, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./ जी.एन./2010-11/17/22954,,,, (cid:16)ारा (च) 10 अ(cid:21)ूबर 2011 को भारतीय (cid:9)ितभूित और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2011, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन./ 2011-12/26/31671,,,, (cid:16)ारा (छ) 2 मई 2012 को भारतीय (cid:9)ितभूित और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2012, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन./ 2012-13/03/5290,,,, (cid:16)ारा (ज) 19 नव(cid:3)बर 2012 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (दसू रा संशोधन) िविनयम,,,, 2012,,,, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./ जी.एन./2012-13/22/5429,,,, (cid:16)ारा (झ) 8 अ(cid:21)ूबर 2013 को भारतीय (cid:9)ितभूित और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (सशं ोधन) िविनयम, 2013, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन/2013-2014/27/6721,,,, (cid:16)ारा (ञ) 26 फरवरी 2015 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2015, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन./2014-15/22/366,,,, (cid:16)ारा¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3 (ट) 21 अ(cid:9)ैल 2015 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (दसू रा संशोधन) िविनयम,,,, 2015,,,, अिधसूचना सं. सेबी/एन.आर.ओ/ओ.आई.ए.ई./जी.एन. 2015-16/002,,,, (cid:16)ारा (ठ) 30 नव(cid:3)बर 2016 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2016, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2016-17/016,,,, (cid:16)ारा (ड) 15 3दस(cid:3)बर 2016 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (दसू रा संशोधन) िविनयम,,,, 2016, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2016-17/024,,,, (cid:16)ारा (ढ) 27 अ(cid:9)ैल 2017 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2017, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2017-18/001,,,, (cid:16)ारा (ण) 17 मई 2017 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8)(कम(cid:8)चारी सेवा) (दसू रा संशोधन) िविनयम, 2017, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2017-18/002,,,, (cid:16)ारा (त) 13 जुलाई 2017 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (तीसरा संशोधन) िविनयम,,,, 2017, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2017-18/010,,,, (cid:16)ारा (थ) 27 अ(cid:9)लै 2018 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (संशोधन) िविनयम, 2018, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2018/09,,,, (cid:16)ारा (द) 31 मई 2018 को भारतीय (cid:9)ितभिू त और िविनमय बोड (cid:8)(कम(cid:8)चारी सेवा) (दसू रा संशोधन) िविनयम, 2018, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2018/18, (cid:16)ारा (ध) 13 अग0त 2018 को भारतीय (cid:9)ितभूित और िविनमय बोड (cid:8) (कम(cid:8)चारी सेवा) (तीसरा सशं ोधन) िविनयम,,,, 2018, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2018/29,,,, (cid:16)ारा संशोिधत (cid:25)ए थे । SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th May, 2019 SECURITIES AND EXCHANGE BOARD OF INDIA (EMPLOYEES' SERVICE) (AMENDMENT) REGULATIONS, 2019 No. SEBI/LAD-NRO/GN/2019/15.—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 (Employees' Service) Regulations, 2001, namely,– 1. These regulations may be called the Securities and Exchange Board of India (Employees' Service) (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 (Employees' Service) Regulations, 2001, - (1) in regulation 36A, in sub-regulation (5),– a. in clause (a), after the words " house allowance" following words and explanation shall be inserted, namely,— "and claims for medical treatment availed in India: Explanation:- For the purpose of this clause, claim for the medical treatment, shall include, medical insurance, claim from Medical Assistance Fund, non-policy medical claims, eye refraction and annual health check-up; "4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4] b. after the existing clause (i), the following new clause shall be inserted, namely, – "(ia) A female employee, who leaves the services of the Board by way of resignation or voluntary retirement during the special hardship leave or within five years after resuming office after availing such leave, shall be liable to pay to the Board, an amount equal to the entire house allowance and medical claims paid during such leave: Provided that after approval of the competent authority, based on requisite documentary evidence, examination and certification by the Medical Officer of the Board, the payment of said amount from the female employee, who has availed special hardship leave on health grounds of self and that being the reason for which she is unable to resume office may be waived;" AJAY TYAGI, Chairman [ADVT.-III/4/Exty./37/19] Footnote: 1. The Securities and Exchange Board of India (Employees’ Service) Regulations, 2001, were published in the Gazette of India on 6th September, 2001 vide S.O. No. 857(E). 2. They were subsequently amended – (a) On 23rd December, 2003 by the Securities and Exchange Board of India (Employees’ Service) (Amendment) Regulations, 2003 vide F. No. SEBI/LE/15/2003. (b) On 25th May, 2004 by the Securities and Exchange Board of India (Employees’ Service) (Amendment) Regulations, 2004 vide S.O. No. 623 (E). (c) On 11th April, 2007 by the Securities and Exchange Board of India (Employees’ Service) (Amendment) Regulations, 2007 vide F. No.11/LC/GN/2006/2143. (d) On 14th January, 2010 by the Securities and Exchange Board of India (Employees’ Service) (Amendment) Regulations, 2010 vide notification No. LAD-NRO/GN/2009-10/28/190983. (e) On 12th October, 2010 by the Securities and Exchange Board of India (Employees’ Service) (Second Amendment) Regulations, 2010 vide notification No. LAD-NRO/GN/2010-11/17/22954. (f) On 10th October, 2011 by the Securities and Exchange Board of India (Employees’ Service) (Amendment) Regulations, 2011 vide notification No. LAD-NRO/GN/2011-12/26/31671. (g) On 2nd May 2012 by the Securities and Exchange Board of India (Employees’ Service) (Amendment) Regulations, 2012 vide notification No. LAD-NRO/GN/2012-13/03/5290. (h) On 19th November 2012 by the Securities and Exchange Board of India (Employees’ Service) (Second Amendment) Regulations, 2012 vide notification No. LAD-NRO/GN/2012-13/22/5429. (i) On 8th October, 2013 by Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2013 vide notification No. LAD-NRO/GN/2013-14/27/6721. (j) On 26th February, 2015 by Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2015 vide notification No. LAD-NRO/GN/2014-15/22/366. (k) On 21st April, 2015 by Securities and Exchange Board of India (Employees' Service) (Second Amendment) Regulations, 2015 vide notification No. SEB-INRO/OIAE/GN/2015-16/002. (l) On 30th November, 2016 by Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2016 vide notification No. SEBI/LAD-NRO/GN/2016-17/016. (m) On 15th December, 2016 by Securities and Exchange Board of India (Employees’ Service) (Second Amendment) Regulations, 2016 vide notification No. SEBI/LAD-NRO/GN/2016-17/024. (n) On 27th April, 2017 by the Securities and Exchange Board of India (Employees’ Service) (Amendment) Regulations, 2017 vide notification No. SEBI/LAD-NRO/GN/2017-18/001.¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 5 (o) On 17th May, 2017 by Securities and Exchange Board of India (Employees' Service) (Second Amendment) Regulations, 2017 vide notification No. SEBI/LAD-NRO/GN/2017-18/002. (p) On 13th July, 2017 by Securities and Exchange Board of India (Employees’ Service) (Third Amendment) Regulations, 2017 vide notification No. SEBI/LAD-NRO/GN/2017-18/010. (q) On 27th April, 2018 by Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2018 vide notification No. SEBI/LAD-NRO/GN/2018/09. (r) On 31st May, 2018 by Securities and Exchange Board of India (Employees' Service) (Second Amendment) Regulations, 2018 vide notification No. SEBI/LAD-NRO/GN/2018/18. (s) On 13rd August, 2018 by Securities and Exchange Board of India (Employees' Service) (Third Amendment) Regulations, 2018 vide notification No. SEBI/LAD-NRO/GN/2018/29. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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