Investor Protection and Education Fund (Amendment) Regulations

SEBI/LAD-NRO/GN/2023/126.—In exercise of the powers conferred by 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 (Investor Protection and Education Fund) Regulations, 2009, namely: –

1. These regulations may be called the Securities and Exchange Board of India (Investor Protection and Education Fund) (Amendment) Regulations, 2023.
   
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 (Investor Protection and Education Fund) Regulations, 2009-
   
   I. in regulation 5,
   
   a. in sub-regulation (2),in clause (g), the word “and” appearing after the word and symbol “Ombudsman;” shall be omitted.
   
   b. in sub-regulation (2),after clause (g), the following new clause shall be inserted, namely, –
   “(ga) any reward under the guidelines as may be issued by the Board from time to time for the grant and payment of reward to the informants for providing original information to the Board to recover amounts under section 28A of the Act or section 23JB of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or section 19-IB of the Depositories Act, 1996 (22 of 1996); and”
   c. in sub-regulation (3), the words and symbols “, be utilisedonly for the purposes of such restitution:” shall be substituted with the words and symbols “or for rewarding informants who provide original information to the Board to recover amounts directed to be disgorged, be utilised only for the purposes of such restitution or reward:”

Footnotes:

1. The Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009 were published in the Gazette of India on 19th May 2009 vide notification no. LAD-NRO/GN/2009-10/05/163525.
2. The Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009, were subsequently amended on:
   a) January 9, 2014 by the Securities and Exchange Board of India (Investor Protection and Education Fund) (Amendment) Regulations, 2014vide notification no. LAD/ NRO/ GN/2013-14/38/49.
   b) March 6, 2017 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017vide notification no. SEBI/LAD/NRO/GN/2016-17/037.

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