In the notification of the Securities and Exchange Board of India No SEBI LAD NRO GN 2021 04 dated January 11 2021 published in the Gazette of India

## Policy Analysis Report: SEBI Notification Corrigendum Regarding Implementation Date **1. Executive Summary:** This report analyzes a corrigendum issued by the Securities and Exchange Board of India (SEBI) regarding a previously published notification. The corrigendum specifically addresses the implementation date of Regulation 2, changing it from the date of publication to April 1, 2021. This adjustment is crucial for stakeholders as it provides a clear and revised timeline for compliance. The report examines the original notification it amends, details the change, and infers potential impacts of the revised implementation date. **2. Introduction:** This report provides an overview and analysis of the Securities and Exchange Board of India (SEBI) Corrigendum No. SEBILADNROGN202106, published on January 19, 2021. The purpose of this report is to inform stakeholders about this specific amendment and its implications, based solely on the provided text. **3. Policy Overview:** * This report analyzes a *corrigendum*, indicating that it amends a pre-existing SEBI notification: No. SEBILADNROGN202104 dated January 11, 2021. * **Core Objective (Inferred from the provided text):** The original notification likely contained regulatory provisions for the securities market. The amendment’s objective is to revise and clarify the implementation date of those provisions. **4. Background and Rationale:** * **Rationale for the Amendment:** The amendment addresses a discrepancy or potential ambiguity regarding the effective date of Regulation 2 in the original notification. The original notification stated that the regulations would come into force on the date of their publication. This amendment likely became necessary because implementing Regulation 2 immediately upon publication proved impractical or created unforeseen challenges, or because a specific implementation timeline was intended from the beginning. The amendment provides a delayed and specific implementation date. **5. Key Provisions / Changes:** This report focuses specifically on the changes introduced by the corrigendum. * **Specific Part of Original Policy Being Changed:** The corrigendum explicitly modifies the implementation date of Regulation 2 within the original notification. * **New Rule/Provision:** The amendment changes the implementation date of Regulation 2 to April 1, 2021. The original implementation date was the date of publication. * **Difference/Effect of the Change:** The change provides a delayed implementation date. This provides affected parties with a clearer timeline for adapting to and complying with Regulation 2, allowing for a structured preparation period. **6. Target Audience and Stakeholders:** Based on the nature of SEBI's regulatory role, the primary target audience and stakeholders for this amendment likely include: * Listed companies * Securities market intermediaries (brokers, investment advisors, etc.) * Investors (institutional and retail) * Other entities regulated by SEBI **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Securities and Exchange Board of India (SEBI) is the responsible agency. * **Timelines:** The amendment clearly establishes a new implementation date of April 1, 2021, for Regulation 2. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this amendment is to provide regulated entities with a more manageable timeframe to prepare for and comply with Regulation 2. The change aims to ensure a smoother and more effective implementation process by allowing stakeholders sufficient time to adjust their systems, procedures, and practices. This may lead to more consistent application of the regulation and avoid potential disruptions. **9. Conclusion:** The SEBI corrigendum is a crucial update that clarifies the implementation date of Regulation 2 in the original notification. By delaying the effective date to April 1, 2021, SEBI allows stakeholders additional time to prepare for the changes mandated by Regulation 2, ultimately facilitating a smoother and more effective implementation process within the securities market. This provides clarity for companies to incorporate regulation 2 in their first quarter reports. The specificity of the amendment underscores its importance for ensuring compliance and stability within the regulated industry.

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