Buy-Back of Securities (Amendment) Regulations, 2023

SECURITIES AND EXCHANGE BOARD OF INDIA (BUY-BACK OF SECURITIES) (AMENDMENT) REGULATIONS, 2023

No. SEBI/LAD-NRO/GN/2023/120.—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 (18 of 2013), the Board hereby makes the following regulations to further 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, 2023.
   
2. They shall come into force on the thirtieth day from the date of their publication in the Official Gazette.
   
3. In the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018,
   
   I. in regulation 2, in clause (i), —
   
   a. after sub-clause (g) and before sub-clause (h), the following sub-clause (ga) shall be inserted,
   namely:—
   “(ga) “frequently traded shares‘ shall have the same meaning as assigned to them under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;”
   
   b. sub-clause (j) shall be omitted;
   
   c. after sub-clause (l) and before sub-clause (m), the following sub-clause (la) shall be inserted, namely:—
   “(la)”secretarial auditor‘ means an auditor as defined in the Secretarial Standards – I issued by
   the Institute of Company Secretaries of India;”.

Continue Reading…

Notification

Read More on SEBI