Securities and Exchange Board of India (Aid for Legal Proceedings) Guidelines, 2009. — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

Securities and Exchange Board of India (Aid for Legal Proceedings) Guidelines, 2009. Short title and commencement (1) These guidelines may be called the Securities and Exchange Board of India (Aid for Legal Proceedings) Guidelines, 2009. These guidelines shall come into force on the date of notification of the Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009 (hereinafter 'the Regulations') Applicability The aid under clause (d) of sub-regulation (2) of the regulation 5 of the Regulations shall be provided in accordance with these guidelines. Definitions (1) In these guidelines, unless the context otherwise requires: (a) 'expenses' means the expenses incurred with respect to any or all of the following in connection with a legal proceedings:- court fees, process fees and other fees/charges payable in the courts as per law; the bills of solicitors, advocates and senior advocates for professional services rendered by them ; the clerkage and other miscellaneous expenses charged by the counsels, senior counsels and solicitors, as applicable. (b) 'legal proceedings' means legal proceedings as defined in clause (g) of sub-regulation (1) of Regulation (2). Making of application (1) Any Investors' Association may make an application to the Board seeking aid for undertaking legal proceedings. Clarification: Different stages of a case, such as review or appeal before the same or another court shall require separate application from the Investors' Association and separate approval from the Board. In case legal proceedings relates to mis-statement, misrepresentation or omission in connection with the issue, sale or purchase of securities, the application shall establish that: Process (1) The aid for the legal proceedings shall be gran