Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2010
No. LAD-NRO/GN/2010-11/04/1109. 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 amend the Securities and Exchange
Board of India (Merchant Bankers) Regulations, 1992, namely:-
1. (i) These regulations may be called the Securities and
Exchange Board of India (Merchant Bankers) (Amendment) Regulations,
2010.
(ii) These regulations shall come into force on the date
of their publication in the Official Gazette.
2. In the Securities and Exchange Board of India (Merchant
Bankers ) Regulations, 1992, –
(i) in regulation 13A, after the proviso and before the Explanation,
the following proviso shall be inserted, namely:-,
“Provided further that a merchant banker, who has been
granted certificate of registration under these regulations,
may ensure market making in accordance with Chapter XA of
the Securities and Exchange Board of India (Issue of Capital
and Disclosure Requirements) Regulations, 2009.”
(ii) in regulation 22, after the proviso, the following proviso
shall be inserted, namely:-
“Provided further that in any issue made in accordance
with Chapter XA of the Securities and Exchange Board of India
(Issue of Capital and Disclosure Requirements) Regulations,
2009 the merchant banker shall, itself or jointly with other
merchant bankers associated with the issue, underwrite at
least fifteen per cent of the issue size.”
(iii) in regulation 27, the following proviso shall be inserted,
namely:-
“Provided that complete particulars of any transaction
for acquisition of securities made in pursuance of underwriting
or market making obligations in accordance with Chapter XA
of the Securities and Exchange Board of India (Issue of Capital
and Disclosure Requirements) Regulations, 2009 shall be submitted
to the Board on quarterly basis.”
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