Legislation UpdatesNotifications

No. SEBI/LAD-NRO/GN/2019/08.— In exercise of the powers conferred under 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 (Issue of Capital and Disclosure Requirements) Regulations, 2018, namely:-

1. These regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Second 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 (Issue of Capital and Disclosure Requirements) Regulations, 2018 –

   I. in Regulation 2, in sub-regulation (1),-

                      i. clause (x), shall be substituted with the following, namely,-
“ “innovators growth platform” means the trading platform for listing and trading of specified securities of issuers that comply with the eligibility criteria specified in Regulation 283;”

                     ii. in clause (y), the words “institutional trading platform” shall be substituted with the words  “innovators growth platform”.

II. in Regulation 3, in clause (i), the words “institutional trading platform” shall be substituted with the words “innovators growth platform”.

III. in CHAPTER X, in the heading, the words “INSTITUTIONAL TRADING PLATFORM” shall be substituted with the words “INNOVATORS GROWTH PLATFORM”.

IV. in Regulation 282, in sub-regulation (3), the words “and not to retail individual investors” shall be omitted.


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