THE GAZETTE OF INDIA — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, September, 11 2018 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, September 11, 2018 SECURITIES AND EXCHANGE BOARD OF INDIA (BUY-BACK OF SECURITIES) REGULATIONS, 2018 No. SEBI/LAD -NRO/GN/2018/32 . -In exercise of the powers conferred by subsections (1) and (2) of section 11 and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with clause (f) of sub-section (2) of section 68 of the Companies Act, 2013, the Board hereby makes the following regulations, namely:- CHAPTER I PRELIMINARY Short title and commencement (i) These regulations may be called the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018. (ii) These regulations shall come into force on the date of their publication in the Official Gazette. Definitions (i) In these regulations, unless the context otherwise requires:— 'Act' means the Securities and Exchange Board of India Act, 1992 (15 of 1992); 'associate' includes a person,— who directly or indirectly by himself or in combination with relatives, exercise control over the company or, ii) whose employee, officer or director is also a director, officer or employee of company; "Board" means the Securities and Exchange Board of India established under section 3 of the Act; 'Buyback period' means the period between the date of board of directors resolution or date of declaration of results of the postal ballot for special resolution, as the case may be, to authorize buyback of shares of the company and the date on which the payment of consideration to shareholders who have accepted the buyback offer is made; 'control' has the same meaning as defined in clause (e) of subregulation (1) of regulati