## Policy Summary: Securities and Exchange Board of India (SEBI) Buyback of Securities Amendment Regulations, 2019
This notification announces amendments to the Securities and Exchange Board of India (SEBI) Buyback of Securities Regulations, 2018. The amendments are titled the "Securities and Exchange Board of India BuyBack of Securities Amendment Regulations, 2019" and were issued by SEBI in Mumbai on July 29, 2019.
These regulations, numbered SEBI/LADNRO/GN/2019/26, are enacted under the powers conferred by subsections (1) and (2) of section 11, and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), read with clause (f) of subsection (2) of section 68 of the Companies Act, 2013. The regulations come into force on the date of their publication in the Official Gazette.
The amendment modifies regulation 3 of the 2018 regulations by inserting an explanation: "For the purposes of these regulations, the term shares shall include equity shares having superior voting rights."
The original Securities and Exchange Board of India BuyBack of Securities Regulations, 2018, were published in the Gazette of India on September 11, 2018, under notification number SEBI/LADNRO/GN/2018/32.
The notification is issued under the authority of Ajay Tyagi, Chairman, Securities and Exchange Board of India.
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: An act of the Parliament of India to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market.
Companies Act, 2013: An Act of the Parliament of India on Indian company law which governs corporate affairs in India.
Securities and Exchange Board of India BuyBack of Securities Regulations, 2018: Regulations by SEBI regarding the buyback of securities.
Securities and Exchange Board of India BuyBack of Securities Amendment Regulations, 2019: Amendment regulations to the 2018 regulations concerning the buyback of securities.
Mumbai, Maharashtra: The city where the Securities and Exchange Board of India notification was issued.
AJAY TYAGI: Chairman of SEBI at the time of notification.
New Delhi: Location of Dte. of Printing at Government of India Press.
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PART III—Section 4
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3872 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 29th July, 2019
SECURITIES AND EXCHANGE BOARD OF INDIA (BUY-BACK OF SECURITIES)
(AMENDMENT) REGULATIONS, 2019
No. SEBI/LAD-NRO/GN/2019/26.—In exercise of the powers conferred by sub-sections (1) and (2)
of section 11 and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with
clause (f) of sub-section (2) of section 68 of the Companies Act, 2013, the Board hereby makes the following
regulations to amend the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018,
namely,—
1. These regulations may be called the Securities and Exchange Board of India (Buy-Back of
Securities) (Amendment) Regulations, 2019.
2. These regulations shall come into force on the date of their publication in the Official Gazette.
3. In the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, in
regulation 3, the following explanation shall be inserted, namely,—
“Explanation: For the purposes of these regulations, the term “shares” shall include equity
shares having superior voting rights.”
AJAY TYAGI, Chairman
[ADVT.-III/4/Exty./163/19]
Footnote:
The Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 was published in the
Gazette of India on September 11, 2018 vide notification No. SEBI/LAD-NRO/GN/2018/32.
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.