Short title and commencement. — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

Short title and commencement. (1) These regulations may be called the SEBI (Prohibition of Insider Trading) Regulations, 2015. These regulations shall come into force on the one hundred and twentieth day from the date of its publication in the Official Gazette. THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, JANUARY 15, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 15 th January, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (PROHIBITION OF INSIDER TRADING) REGULATIONS, 2015 No. LAD-NRO/GN/2014-15/21/85.- In exercise of the powers conferred by section 30 read with clause (g) of sub-section (2) of section 11 and clause (d) and clause (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 put in place a framework for prohibition of insider trading in securities and to strengthen the legal framework thereof, namely:— CHAPTER – I PRELIMINARY Definitions. (1) In these regulations, unless the context otherwise requires, the following words, expressions and derivations therefrom shall have the meanings assigned to them as under:– (a) “Act” means the Securities and Exchange Board of India Act, 1992 (15 of 1992); (b) “Board” means the Securities and Exchange Board of India; (c) "compliance officer" means any senior officer, designated so and reporting to the board of directors or head of the organization in case board is not there, who is financially literate and is capable of appreciating requirements for legal and regulatory compliance under these regulations and who shall be responsible for compliance of policies, procedures, maintenance of records, monitoring adherence to the rules for the preservation of unpublished price se