**Executive Summary:**
This document contains the Securities and Exchange Board of India (SEBI) Employees' Service Amendment Regulations, 2017. These regulations, effective from the date of publication in the Official Gazette, further amend the SEBI Employees' Service Regulations, 2001. A key provision prohibits SEBI employees from participating in auctions conducted by the Board related to recovery proceedings.
**Key Points / Main Content:**
* **Amendment Title:** The regulations are called the Securities and Exchange Board of India Employees' Service Amendment Regulations, 2017.
* **Effective Date:** The regulations come into force on the date of their publication in the Official Gazette.
* **Amendment to 2001 Regulations:** These regulations amend the Securities and Exchange Board of India Employees' Service Regulations, 2001.
* **Prohibition on Auction Participation:**
* Regulation 71A is inserted, prohibiting employees from participating, directly or indirectly, in auctions conducted by the Board.
* This prohibition applies to the sale of movable or immovable properties.
* The auctions in question are those related to recovery proceedings initiated under specified sections of relevant Acts.
**Impact Analysis:**
**SEBI Employees:**
* *Impact:* SEBI employees are now prohibited from participating, either directly or indirectly, in auctions conducted by the Board for the sale of properties related to recovery proceedings.
* *Action Required:* Employees must refrain from participating in any such auctions to comply with the new regulation.
**Securities and Exchange Board of India (SEBI):**
* *Impact:* SEBI is responsible for enforcing the new regulation and ensuring that its employees comply with the prohibition on auction participation.
* *Action Required:* Update internal policies and communicate the new regulation to all employees.
Key Entities Referenced
Securities and Exchange Board of India (SEBI): The regulatory body for securities and commodity market in India.
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 Contracts Regulation Act, 1956: An act to prevent undesirable transactions in securities by regulating the business of dealing therein.
Depositories Act, 1996: An act to provide for the establishment of depositories in securities with the object of ensuring free transferability of securities with speed, accuracy and security.
Securities and Exchange Board of India Employees' Service Regulations, 2001: The regulations governing the service conditions of the employees of SEBI, which are being amended by this notification.
Securities and Exchange Board of India Employees' Service Amendment Regulations, 2017: The specific amendment regulations to the SEBI Employees' Service Regulations being introduced in this notification.
Ajay Tyagi: Chairman of the Securities and Exchange Board of India (SEBI) at the time of notification.
New Delhi, Delhi: The city in which the gazette was published.
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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. 167] NEW DELHI, THURSDAY, APRIL 27, 2017/VAISAKHA 7, 1939
भारतीय (cid:7079)ितभिूत और िविनमय बोड र्
अिधसचू ना
मुम्बई, 27 अ(cid:7079)ैल, 2017
भारतीय (cid:7079)ितभिूत और िविनमय बोड र्
(कमर्चारी सेवा) (सशं ोधन) िविनयम, 2017
स.ं सबे ी/एल.ए.डी.-एन.आर.ओ./जी.एन./2017-18/001.—बोडर्, भारतीय (cid:7079)ितभूित और िविनमय बोड र् अिधिनयम, 1992
(1992 का 15) की धारा 30 (cid:7367)ारा (cid:7079)द(cid:7275) शि(cid:7334)य(cid:7298) का (cid:7079)योग करत े हुए, एत(cid:7375)ारा भारतीय (cid:7079)ितभूित और िविनमय बोड र् (कमर्चारी सेवा)
िविनयम, 2001 का और संशोधन करन ेके िलए िन(cid:7388)िलिखत िविनयम बनाता ह,ै अथार्त्,-
1. इन िविनयम(cid:7298) को भारतीय (cid:7079)ितभिूत और िविनमय बोड र्(कमर्चारी सवे ा) (संशोधन) िविनयम, 2017 कहा जा सकेगा ।
2. वे राजप(cid:7074) म(cid:7286) उनके (cid:7079)काशन की तारीख को (cid:7079)वृ(cid:7275) ह(cid:7298)गे ।
3. भारतीय (cid:7079)ितभूित और िविनमय बोड र् (कमर्चारी सेवा) िविनयम, 2001 म(cid:7286), िविनयम 71 के प(cid:7391)ात,् एक नया िविनयम
अंतःस्थािपत िकया जाएगा, अथार्त्,-
“71क. वसूली कायवर् ािहय(cid:7298) के अनसु रण म(cid:7286) बोडर् (cid:7367)ारा की जान ेवाली नीलामी म(cid:7286) भाग लेन ेपर (cid:7079)ितषधे
कोई भी कमर्चारी, अिधिनयम की धारा 28क या (cid:7079)ितभिूत संिवदा (िविनयमन) अिधिनयम, 1956 [िसक्यूिरटीज़ कॉण्(cid:7069)ैक्ट्स
(रेग्यूलेशन) एक्ट, 1956] की धारा 23ञख या िनक्षेपागार अिधिनयम, 1996 (िडपॉिज़टरीज़ एक्ट, 1996) की धारा 19झख के
अधीन शुरू की गई वसूली कायर्वािहय(cid:7298) के अनुसरण म(cid:7286) चल या अचल संपि(cid:7275)य(cid:7298) की िब(cid:7059)ी हते ु बोड र्(cid:7367)ारा की जान ेवाली नीलामी
म(cid:7286) न तो (cid:7079)त्यक्ष रूप से भाग लेगा और न ही अ(cid:7079)त्यक्ष रूप से भाग लगे ा ।”
अजय त्यागी, अध्यक्ष
[िवज्ञापन-III/4/असा./36/17]
2802 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
पाद िटप्पण :
1. भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) िविनयम, 2001, का.आ. सं. 857(अ), 6 िसतम्बर 2001 को
भारत के राजप(cid:7074) म(cid:7286) (cid:7079)कािशत हुए थे ।
2. वे तत्प(cid:7391)ात् -
(क) 23 िदसम्बर 2003 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (संशोधन) िविनयम, 2003,
फा.सं. भा(cid:7079)िवबो/िविध/15/2003, (cid:7367)ारा
(ख) 25 मई 2004 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (संशोधन) िविनयम, 2004,
का.आ. सं. 623(अ), (cid:7367)ारा
(ग) 11 अ(cid:7079)ैल 2007 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (संशोधन) िविनयम, 2007,
फा.सं. 11/एल सी/जी एन/2006/2143, (cid:7367)ारा
(घ) 14 जनवरी 2010 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (संशोधन) िविनयम, 2010,
अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन./ 2009-10/28/190983, (cid:7367)ारा
(ङ) 12 अ(cid:7334)ूबर 2010 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (दसू रा संशोधन) िविनयम,
2010, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./ जी.एन./2010-11/17/22954, (cid:7367)ारा
(च) 10 अ(cid:7334)ूबर 2011 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (संशोधन) िविनयम, 2011,
अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन./ 2011-12/26/31671, (cid:7367)ारा
(छ) 2 मई 2012 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (संशोधन) िविनयम, 2012,
अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./जी.एन./ 2012-13/03/5290, (cid:7367)ारा
(ज) 19 नवम्बर 2012 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (दसू रा संशोधन) िविनयम,
2012, अिधसूचना सं. एल.ए.डी.-एन.आर.ओ./ जी.एन./2012-13/22/5429, (cid:7367)ारा
(झ) 8 अ(cid:7334)ूबर 2013 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी 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)ितभूित और िविनमय बोडर् (कमर्चारी 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)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (दसू रा संशोधन) िविनयम,
2015, अिधसूचना सं. सेबी/एन.आर.ओ/ओ.आई.ए.ई./जी.एन. 2015-16/002, (cid:7367)ारा
(ठ) 30 नवम्बर 2016 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (संशोधन) िविनयम, 2016,
अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2016-17/016, (cid:7367)ारा
(ड) 15 िदसम्बर 2016 को भारतीय (cid:7079)ितभूित और िविनमय बोडर् (कमर्चारी सेवा) (दसू रा संशोधन) िविनयम,
2016, अिधसूचना सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2016-17/024, (cid:7367)ारा संशोिधत हुए थे ।¹Hkkx IIIμ[k.M 4º Hkkjr dk jkti=k % vlk/kj.k 3
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 27th April, 2017
Securities And Exchange Board Of India
(Employees' Service) (Amendment) Regulations, 2017
No. SEBI/LAD-NRO/GN/2017-18/001─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, 2017.
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, after regulation 71, a
new regulation shall be inserted, namely,–
“71A Prohibition on participating in auction conducted by the Board in pursuance of recovery
proceedings.
No employee shall participate, either directly or indirectly, in an auction conducted by the Board for sale of
movable or immovable properties in pursuance of recovery proceedings initiated under section 28A of the Act or
section 23JB of the Securities Contracts (Regulation) Act, 1956 or section 19-IB of the Depositories Act, 1996.”
AJAY TYAGI, Chairman
[ADVT.-III/4/Exty./36/17]
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. LADNRO/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. LADNRO/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/2012-13/223/5429.
(i) On 8th October, 2013 by Securities and Exchange Board of India (Employees' Service) (Amendment)
Regulations, 2013 vide notification No. LADNRO/GN/2013-14/27/6721.
(j) On 26thFebruary, 2015 by Securities and Exchange Board of India (Employees' Service) (Amendment)
Regulations, 2015 vide notification No. LADNRO/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. SEBINRO/OIAE/GN/2015-16/002.4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(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.
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