Executive Summary:
This document contains the Securities and Exchange Board of India (SEBI) Amendment Regulations of 2018, concerning the issue and listing of Non-Convertible Redeemable Preference Shares. It amends the 2013 regulations on the same subject. The regulations come into force on the date of their publication in the Official Gazette, October 9, 2018.
Key Points / Main Content:
* **Amendment Regulations Title:**
* Securities and Exchange Board of India Issue and Listing of Non-Convertible Redeemable Preference Shares Amendment Regulations, 2018.
* **Effective Date:**
* The regulations come into force on the date of their publication in the Official Gazette, October 9, 2018.
* **Amendment to 2013 Regulations:**
* Regulation 16B shall be omitted from the Securities and Exchange Board of India Issue and Listing of Non-Convertible Redeemable Preference Shares Regulations, 2013.
Impact Analysis:
* **Issuers of Non-Convertible Redeemable Preference Shares:**
* Impact: The omission of Regulation 16B from the 2013 regulations impacts the rules and guidelines they must follow.
* Action Required: Issuers should review their processes and procedures to ensure compliance with the amended regulations, specifically noting the removal of requirements outlined in the previous Regulation 16B.
* **Securities and Exchange Board of India (SEBI):**
* Impact: SEBI is responsible for enforcing the amended regulations.
* Action Required: SEBI needs to update its monitoring and enforcement mechanisms to reflect the changes introduced by these amendment regulations.
* **Investors:**
* Impact: The omission of Regulation 16B from the 2013 regulations impacts their investment decisions
* Action Required: Investors should review their investment strategies to ensure compliance with the amended regulations, specifically noting the removal of requirements outlined in the previous Regulation 16B.
Key Entities Referenced
Securities and Exchange Board of India (SEBI): A 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 and Exchange Board of India Issue and Listing of NonConvertible Redeemable Preference Shares Regulations, 2013: Regulations pertaining to the issuance and listing of non-convertible redeemable preference shares.
Securities and Exchange Board of India Issue and Listing of NonConvertible Redeemable Preference Shares Amendment Regulations, 2018: Amendments made in 2018 to the regulations concerning the issuance and listing of non-convertible redeemable preference shares.
Mumbai, Maharashtra: The city in Maharashtra where the notification was issued.
Official Gazette: A publication for official notifications.
AJAY TYAGI: Chairman of SEBI during the notification.
Securities and Exchange Board of India Payment of Fees Amendment Regulations, 2014: Regulations amended in 2014 related to the payment of fees.
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अिधिनयम, 1992 (1992 का 15) क(cid:24) धारा 30 क(cid:24) उप-धारा (1) (cid:27)ारा (cid:17)द(cid:29) शि(cid:7)य(cid:31) का (cid:17)योग करत े "ए एतद्(cid:27)ारा
भारतीय (cid:17)ितभिू त और िविनमय बोड (cid:12) (असंप’रवतन(cid:12) ीय मोचनीय अिधमानी शेयर(cid:31) का िनगम(cid:12) और इनक(cid:24) सूचीब*ता)
िविनयम, 2013 का और संशोधन करने के िलए िन-िलिखत िविनयम बनाता ह,ै अथात(cid:12) ्:-
1. इन िविनयम(cid:31) को भारतीय (cid:17)ितभिू त और िविनमय बोड (cid:12) (असपं ’रवतन(cid:12) ीय मोचनीय अिधमानी शेयर(cid:31) का िनगम(cid:12) और
इनक(cid:24) सूचीब*ता) (संशोधन) िविनयम, 2018 कहा जा सकेगा ।
2. वे राजप4 म5 उनके (cid:17)काशन क(cid:24) तारीख को (cid:17)वृ(cid:29) ह(cid:31)गे ।
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िविनयम, 2013 म,5 िविनयम 16ख का लोप हो जाएगा ।
अजय 9यागी, अ:य;
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5935 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
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अिधसूचना स.ं एल.ए.डी.-एन.आर.ओ./जी.एन./2014-15/03/1089, (cid:27)ारा
(ख) 2 िसत(cid:3)बर 2015 को भारतीय (cid:17)ितभिू त और िविनमय बोड (cid:12)[सूचीब*ता (िल?@टंग) बा:यताएँ और (cid:17)कटीकरण
अपे;ाए]ँ िविनयम, 2015, स.ं सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2015-16/013, (cid:27)ारा
(ग) 6 माच,(cid:12) 2017 को भारतीय (cid:17)ितभिू त और िविनमय बोड(cid:12) (फ(cid:24)स का भुगतान और भुगतान का मा:यम)
(संशोधन) िविनयम, 2017, सं. सेबी/एल.ए.डी.-एन.आर.ओ./जी.एन./2016-17/037, (cid:27)ारा सशं ोिधत "ए थ।े
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 09th October, 2018
SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE AND LISTING OF NON-CONVERTIBLE
REDEEMBABLE PREFERENCE SHARES)
(AMENDMENT) REGULATIONS, 2018
No. SEBI/LAD-NRO/GN/2018/44 .— In exercise of the powers conferred by sub-section (1) of 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 and Listing of Non-Convertible Redeemable Preference
Shares) Regulations, 2013, namely:-
1. These Regulations may be called the Securities and Exchange Board of India (Issue and Listing of Non-Convertible
Redeemable Preference Shares) (Amendment) Regulations, 2018.
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 and Listing of Non-Convertible Redeemable Preference
Shares) Regulations, 2013, the regulation 16B shall be omitted.
AJAY TYAGI, CHAIRMAN
[ADVT. III/4/Exty./300/18]
Footnotes:
1. The Securities and Exchange Board of India (Issue and Listing of Non-Convertible Redeemable Preference
Shares) Regulations, 2013, was published in the Gazette of India on 12th June, 2013vide No. LAD-
NRO/GN/2013-14/11/6063.
2. The Securities and Exchange Board of India (Issue and Listing of Non-Convertible Redeemable Preference
Shares) Regulations, 2013 was subsequently amended on-
(a) May 23rd, 2014 by Securities and Exchange Board of India (Payment of Fees) (Amendment)
Regulations, 2014 vide No. LAD-NRO/GN/2014-15/03/1089.
(b) September 2nd, 2015 by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
vide No. SEBI/LAD-NRO/GN/2015-16/013.
(c) March 06, 2017 by Securities and Exchange Board of India (Payment of Fees and Mode of Payment)
(Amendment) Regulations, 2017 vide No. SEBI/LAD/NRO/GN/2016-17/037.
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