Executive Summary:
This document contains the Securities and Exchange Board of India (SEBI) Employees' Service Amendment Regulations, 2016. It amends the 2001 regulations regarding employee service, specifically concerning the SEBI Provident Fund and the SEBI New Pension Scheme. The regulations came into force on November 29, 2016, the date of their publication in the Official Gazette.
Key Points / Main Content:
* **Amendment Regulations Title:** The regulations are called the Securities and Exchange Board of India Employees' Service Amendment Regulations, 2016.
* **Effective Date:** The regulations came into force on the date of their publication in the Official Gazette (November 29, 2016).
* **Amendment to Regulation 94:** Regulation 94 of the Securities and Exchange Board of India Employees' Service Regulations, 2001, is substituted with the following provisions regarding Provident Fund and Pension Scheme:
* **Membership:** Unless otherwise specified, every employee shall become a member of the SEBI Employee's Provident Fund and shall agree to be bound by the Rules of the Fund.
* **New Pension Scheme:** Every whole-time employee joining the services of the Board on or after a specified date, shall only become a member of the SEBI New Pension Scheme and shall agree to be bound by the Rules of the Scheme.
* **Option for Existing Members:** Every whole-time employee of the Board who is a member of the SEBI Employees Provident Fund, prior to a specified date, shall be given an option to remain a member of the SEBI Employees Provident Fund or to become a member of the SEBI New Pension Scheme, in a specified manner.
Impact Analysis:
* **SEBI Employees:**
* Impact: New employees will be enrolled in the SEBI New Pension Scheme. Existing employees have the option to switch from the Provident Fund to the New Pension Scheme.
* Action Required: Existing employees need to decide whether to remain in the SEBI Employees Provident Fund or opt for the SEBI New Pension Scheme, as per the specified manner. New employees will be enrolled in the SEBI New Pension Scheme.
Key Entities Referenced
Securities and Exchange Board of India (SEBI): A regulatory body for the securities market in India. This notification pertains to SEBI employees' service regulations.
Securities and Exchange Board of India Act, 1992: The Act of the Parliament of India that established the Securities and Exchange Board of India (SEBI).
Securities and Exchange Board of India Employees' Service Regulations, 2001: The regulations governing the service conditions of the employees of the Securities and Exchange Board of India (SEBI).
Securities and Exchange Board of India Employees' Service Amendment Regulations, 2016: The amendment to the Securities and Exchange Board of India Employees' Service Regulations.
SEBI Provident Fund: The provident fund scheme for the employees of Securities and Exchange Board of India (SEBI).
SEBI New Pension Scheme: The new pension scheme for the employees of Securities and Exchange Board of India (SEBI).
U. K. Sinha: Chairman of Securities and Exchange Board of India (SEBI) at the time of notification.
Mumbai, Maharashtra: Location of the Securities and Exchange Board of India (SEBI).
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EXTRAORDINARY
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PART III—Section 4
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PUBLISHED BY AUTHORITY
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No. 439] NEW DELHI, WEDNESDAY, NOVEMBER 30, 2016/AGRAHAYANA 9, 1938
भारतीय (cid:7079)ितभिू त और िविनमय बोड(cid:6981)
अिधसचू ना
मु(cid:7013)बई, 29 नव(cid:7013)बर, 2016
भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981)(कमच(cid:6981) ारी सवे ा) (सशं ोधन) िविनयम, 2016
स.ं सबे ी/एल.ए.डी.-एन.आर.ओ./जी.एन./2016-17/016.—बोड,(cid:6981) भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981)
अिधिनयम, 1992 (1992 का 15) क(cid:7409) धारा 30 (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करत े (cid:7263)ए, एत(cid:7375)ारा भारतीय (cid:7079)ितभिू त और
िविनमय बोड(cid:6981) (कम(cid:6981)चारी सेवा) िविनयम, 2001 का और संशोधन करन ेके िलए िन(cid:7388)िलिखत िविनयम बनाता ह,ै अथात(cid:6981) ,्-
1.(cid:32) इन िविनयम(cid:7298) को भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981)(कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2016 कहा जा सकेगा ।
2.(cid:32) वे राजप(cid:7074) म(cid:7286) उनके (cid:7079)काशन क(cid:7409) तारीख को (cid:7079)वृ(cid:7275) ह(cid:7298)गे ।
3.(cid:32) भारतीय (cid:7079)ितभिू त और िविनमय बोड(cid:6981) (कम(cid:6981)चारी सेवा) िविनयम, 2001 म,(cid:7286) िविनयम 94 के िलए, िन(cid:7388)िलिखत
(cid:7079)ित(cid:7021)थािपत हो जाएगा, अथा(cid:6981)त,् -
"भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) क(cid:7409) भिव(cid:7020)य िनिध या भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) क(cid:7409) नई पश(cid:7286) न (cid:7021)क(cid:7409)म
म (cid:7286)अिभदान (सि(cid:7011)(cid:7021)(cid:7059)(cid:7009)शन)
94. (1) जब तक (cid:7408)क इन िविनयम(cid:7298) म (cid:7286) अ(cid:7008)यथा िनधा(cid:6981)(cid:7407)रत न हो, (cid:7079)(cid:7004)यके कम(cid:6981)चारी भारतीय (cid:7079)ितभूित और िविनमय बोड (cid:6981)
क(cid:7409) कम(cid:6981)चारी भिव(cid:7020)य िनिध का सद(cid:7021)य बनेगा और िनिध (फंड) के िनयम(cid:7298) से आब(cid:7373) होन ेके िलए सहमत होगा ।
(2) उप-िविनयम (1) म (cid:7286)दी (cid:7263)ई (cid:7408)कसी बात के होत े(cid:7263)ए भी, ऐसी तारीख को और ऐसी तारीख स ेजो िनधा(cid:7407)(cid:6981) रत क(cid:7409) जाए,
बोड (cid:6981) क(cid:7409) सेवा(cid:7312) म (cid:7286) काय(cid:6981)(cid:7061)हण करन े वाला (cid:7079)(cid:7004)यके पूणक(cid:6981) ािलक कम(cid:6981)चारी केवल भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) क(cid:7409)
नई प(cid:7286)शन (cid:7021)क(cid:7409)म का ही सद(cid:7021)य बनेगा और (cid:7021)क(cid:7409)म के िनयम(cid:7298) से आब(cid:7373) होन ेके िलए सहमत होगा ।
5526 GI/2016 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(3) बोड (cid:6981)के ऐसे (cid:7079)(cid:7004)यके पूणक(cid:6981) ािलक कम(cid:6981)चारी को, जो ऐसी तारीख स ेपूव(cid:6981) जो िनधा(cid:7407)(cid:6981) रत क(cid:7409) जाए, भारतीय (cid:7079)ितभिू त और
िविनमय बोड (cid:6981) क(cid:7409) कम(cid:6981)चारी भिव(cid:7020)य िनिध का सद(cid:7021)य हो, यह िवक(cid:7016)प (cid:7408)दया जाएगा (cid:7408)क वह या तो भारतीय (cid:7079)ितभिू त
और िविनमय बोड (cid:6981)क(cid:7409) कम(cid:6981)चारी भिव(cid:7020)य िनिध का सद(cid:7021)य बना रह ेया (cid:7408)फर भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981)क(cid:7409) नई
प(cid:7286)शन (cid:7021)क(cid:7409)म का सद(cid:7021)य बन जाए, ऐसी रीित स ेजो िनधा(cid:6981)(cid:7407)रत क(cid:7409) जाए।"
यू. के. िस(cid:7008)हा, अ(cid:7007)य(cid:6979)
[िव(cid:6980)ापन-III/4/असा./328/16 (692बी)]
पाद (cid:7407)ट(cid:7009)पण :
1.(cid:32) भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981)(कम(cid:6981)चारी सेवा) िविनयम, 2001, का.आ. स.ं 857(अ), 6 िसत(cid:7013)बर 2001 को
भारत के राजप(cid:7074) म (cid:7286)(cid:7079)कािशत (cid:7263)ए थे ।
2.(cid:32) भारतीय (cid:7079)ितभूित और िविनमय बोड (cid:6981)(कम(cid:6981)चारी सेवा) िविनयम, 2001 त(cid:7004)प(cid:7391)ात ्-
(क) 23 (cid:7408)दस(cid:7013)बर 2003 को भारतीय (cid:7079)ितभूित और िविनमय बोड(cid:6981) (कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2003,
फा.स.ं भा(cid:7079)िवबो/िविध/15/2003, (cid:7367)ारा
(ख) 25 मई 2004 को भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) (कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2004,
का.आ. स.ं 623(अ), (cid:7367)ारा
(ग) 11 अ(cid:7079)ैल 2007 को भारतीय (cid:7079)ितभूित और िविनमय बोड (cid:6981) (कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2007,
फा.स.ं 11/एलसी/जीएन/2006/2143, (cid:7367)ारा
(घ) 14 जनवरी 2010 को भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) (कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2010,
अिधसूचना सं. एलएडी-एनआरओ/जीएन/2009-10/28/190983, (cid:7367)ारा
(ङ) 12 अ(cid:7334)ूबर 2010 को भारतीय (cid:7079)ितभूित और िविनमय बोड(cid:6981) (कम(cid:6981)चारी सेवा) (दसू रा सशं ोधन) िविनयम,
2010, अिधसूचना स.ं एलएडी-एनआरओ/जीएन/2010-11/17/22954, (cid:7367)ारा
(च) 10 अ(cid:7334)ूबर 2011 को भारतीय (cid:7079)ितभूित और िविनमय बोड (cid:6981) (कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2011,
अिधसूचना सं. एलएडी-एनआरओ/जीएन/2011-12/26/31671, (cid:7367)ारा
(छ) 2 मई 2012 को भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) (कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2012,
अिधसूचना सं. एलएडी-एनआरओ/जीएन/2012-13/03/5290, (cid:7367)ारा
(ज) 19 नव(cid:7013)बर 2012 को भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) (कम(cid:6981)चारी सेवा) (दसू रा संशोधन) िविनयम,
2012, अिधसूचना स.ं एलएडी-एनआरओ/जीएन/2012-13/223/5429, (cid:7367)ारा
(झ) 8 अ(cid:7334)ूबर 2013 को भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) (कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2013,
अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन/2013-2014/27/6721, (cid:7367)ारा
(ञ) 26 फरवरी 2015 को भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981) (कम(cid:6981)चारी सेवा) (संशोधन) िविनयम, 2015,
अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन./2014-15/22/366, (cid:7367)ारा
(ट) 21 अ(cid:7079)ैल 2015 को भारतीय (cid:7079)ितभिू त और िविनमय बोड (cid:6981)(कम(cid:6981)चारी सेवा) (दसू रा संशोधन) िविनयम, 2015,
अिधसूचना सं. सेबी/एन.आर.ओ/ओ.आई.ए.ई./जी.एन. 2015-16/002, (cid:7367)ारा संशोिधत (cid:7263)ए थे ।¹Hkkx IIIµ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 29th November, 2016
SECURITIES AND EXCHANGE BOARD OF INDIA (EMPLOYEES' SERVICE) (AMENDMENT)
REGULATIONS, 2016
No. SEBI/LAD-NRO/GN/2016-17/016.—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.(cid:32) These regulations may be called the Securities and Exchange Board of India (Employees' Service)
(Amendment) Regulations, 2016.
2.(cid:32) They shall come into force on the date of their publication in the Official Gazette.
3.(cid:32) In the Securities and Exchange Board of India (Employees' Service) Regulations, 2001, for regulation
94, the following shall be substituted, namely,-(cid:32)
"Subscription to the SEBI Provident Fund or the SEBI New Pension Scheme
94. (1) Unless otherwise specified in these regulations, every employee shall become a member of the
SEBI Employee's Provident Fund and shall agree to be bound by the Rules of the Fund.
(2) Notwithstanding anything contained in sub-regulation (1), every whole time employee joining the
services of the Board, on and from such date, as may be specified, shall only become a member of the
SEBI New Pension Scheme and shall agree to be bound by the Rules of the Scheme.
(3) Every whole time employee of the Board who is a member of the SEBI Employee’s Provident Fund,
prior to such date as may be specified, shall be given an option to remain a member of the SEBI
Employee’s Provident Fund or to become a member of the SEBI New Pension Scheme, in such manner
as may be specified.
U. K. SINHA, Chairman
[ADVT.-III/4/Exty./328/16 (692B)]
Footnote:
1.(cid:32) 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.(cid:32) The Securities and Exchange Board of India (Employees’ Service) Regulations, 2001 were subsequently
amended –
(a)(cid:32) 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)(cid:32) On 25th May, 2004 by the Securities and Exchange Board of India (Employees’ Service)
(Amendment) Regulations, 2004 vide S.O. No. 623(E).
(c)(cid:32) 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)(cid:32) 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)(cid:32) 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)(cid:32) On 10th October, 2011 by the Securities and Exchange Board of India (Employees’ Service)
(Amendment) Regulations, 2011 vide notification No. LAD-NRO/GN/2011-12/26/31671.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(g)(cid:32) 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)(cid:32) 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-
13/223/5429.
(i)(cid:32) 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)(cid:32) 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)(cid:32) On 21st April, 2015 by Securities and Exchange Board of India (Employees’ Service) (Second
Amendment) Regulations, 2015 vide notification No. SEBI-NRO/OIAE/GN/2015-16/002.
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