SEBI (Intermediaries) (Amendment) Regulations, 2022

SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI) (INTERMEDIARIES) (AMENDMENT) REGULATIONS, 2022

No SEBI/LAD-NRO/GN/2022/91.—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 (Intermediaries) Regulations, 2008, namely: –

1. These regulations may be called the Securities and Exchange Board of India (SEBI) (Intermediaries) (Amendment) Regulations, 2022.
   
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 (Intermediaries) Regulations, 2008, –
   
   (I) for the words “designated member”, wherever occurring, the words “competent authority” shall be substituted;
   
   (II) in regulation 22, clause (c) shall be substituted by the following, namely, –
   
   “(c) “competent authority” means a Whole Time Member or an officer of the Board, not below the rank of a Chief General Manager, as may be designated for the purpose by the Board;”;
   
   (III) in regulation 24, sub-regulation (1) shall be substituted by the following, namely, –
   “(1) The Board may approve the initiation of proceedings for any default of the nature specified in regulation 23 against any person who has been granted a certificate of registration under the Act and regulations made thereunder.”

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