The Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations 2019-Member of promoter group to also make disclosure
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 21st January, 2019
SECURITIES AND EXCHANGE BOARD OF INDIA
(PROHIBITION OF INSIDER TRADING) (AMENDMENT) REGULATIONS, 2019
No. SEBI/LAD-NRO/GN/2019/02.─In exercise of the powers conferred under Section 30 read with clause (g) of sub-section (2) of Section 11 and clauses (d) and (e) of Section 12A of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, namely: –
1. These regulations may be called the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2019.
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 (Prohibition of Insider Trading) Regulations, 2015, –
(I) in regulation 2, in sub-regulation (1): –
(i) after clause (h), following new clause shall be inserted, namely:–
“(ha) “promoter group” shall have the meaning assigned to it under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 or any modification thereof;”
(ii) existing clause (ha) shall be re-numbered as (hb);
(II) in regulation 7, –
(i) in sub-regulation (1),
(a) in clause (a) after the word “promoter”, and before the word and symbol “, key” the words “, member of the promoter group” shall be inserted;
(b) in clause (b), the word “promoter” wherever appearing shall be substituted with “promoter or member of the promoter group”;
(ii) in sub-regulation (2), in clause (a), after the word “promoter” and before the word and symbol”, designated person”, the words and symbol”, member of the promoter group” shall be inserted.
AJAY TYAGI, CHAIRMAN
[ADVT-III/4/Exty./495/18]
Footnotes:
1. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 was published in the Gazette of India on January 15, 2015 vide No. LAD-NRO/GN/2014-15/21/85.
2. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 was amended on December 31, 2018 by the Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2018 vide No. SEBI/LAD-NRO/GN/ 2018/59.
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