Infrastructure Investment Trusts (Second Amendment) Regulations, 2022

SECURITIES AND EXCHANGE BOARD OF INDIA (INFRASTRUCTURE INVESTMENT TRUSTS) (SECOND AMENDMENT) REGULATIONS, 2022

No. SEBI/LAD-NRO/GN/2022/101.—In exercise of the powers conferred under section 30 read with section 11 and section 12 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 (Infrastructure Investment Trusts) Regulations, 2014, namely: –

1. These regulations may be called the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Second Amendment) Regulations, 2022.
   
2. They shall come into force on January 1, 2023.
   
3. In the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, ─
   
   (1) in regulation 14, after sub-regulation (5), the following shall be inserted, namely –
   
   “(5A) No InvIT shall undertake any activity under Chapter VIA.”
   
   (2) in regulation 17,
   a. in sub-regulation (1), clause (ea) shall be omitted;
   b. under sub-regulation (6), the proviso shall be omitted;
   
   (3) in regulation 22,
   a. sub-regulation (5B) shall be omitted;
   
   (4) in regulation 26A,
   a. in sub-regulation (1), the words ―proposes to issue units or‖ shall be omitted;
   b. sub-regulation (2) shall be omitted;
   c. in sub-regulation (3), the words and symbol ―issuing units/‖ shall be omitted;
   
   (5) in regulation 26B, sub-regulation (1) shall be omitted;
   
   (6) in regulation 26C, sub-regulation (1) shall be omitted;
   
   (7) in regulation 26D, sub-regulation (1) and sub-regulation (2) shall be omitted;
   
   (8) in regulation 26F,
   (a) the provision of regulation 26F shall be numbered as sub-regulation (1);
   (b) after sub-regulation (1), the following shall be inserted, namely —
   “(2) Notwithstanding anything contained in these regulations, the Board may grant any exemptions to the InvITs which have issued units in terms of the provisions of this Chapter, from these regulations, for the purpose of facilitating listing the units of such InvITs on a recognized stock exchange having nationwide trading terminals.”

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