THE GAZETTE OF INDIA

84b4ab28203a33063f7d774a9f92b82771f35d8e · 1992 · State unknown

Download PDF Parent Act Back to Subordinates

Parent: THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 (7c4c1f5343adab106c3a94cafc08a5ecf5957ae7)

Text

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, JANUARY 21, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 21 st January, 2013 SECURITIES AND EXCHANGE BOARD OF INDIA (INVESTMENT ADVISERS) REGULATIONS, 2013 No. LAD-NRO/GN/2012-13/31/1778.-In exercise of the powers conferred by sub-section (1) of Section 30 read with clause (b) of sub-section (2) of Section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby, makes the following regulations, namely, — CHAPTERI PRELIMINARY Short title and commencement. (1) These regulations may be called the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013. (2) These regulations shall come into force on the ninetieth day from the date of their publication in the Official Gazette. Definitions. (1) In these regulations, unless the context otherwise requires, the terms defined herein shall bear the meanings assigned to them below, and their cognate expressions shall be construed accordingly,– (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 established under section 3 of the Act; (c) "body corporate" shall have the meaning assigned to it in or under sub-section (7)of section 2 of the Companies Act, 1956 (1 of 1956); (d) "certificate" means a certificate of registration granted under these regulations; (e) "change in control" in relation to a company or a body corporate, means: (i) if its shares are listed on any recognized stock exchange, change in control within the meaning of clause (e) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Substantial A

Rule TOC

3 · [The investment adviser which has already been granted certificate of registration by the Board, prior to the commencement of the Securities and Exchange Board of India (Change in Conditions of Registration of Certain Intermediaries)(Amendment) Regulations, 2016 shall be deemed to have been granted a certificate of registration, in terms of sub-regulation (1).]

1 · The words "/renewal" was omitted by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016.

2 · Substituted for the words "for a period of five years from the date of its issue." by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016.

3 · Substituted by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016. Prior to substitution regulation 11 read as under:

16 · Investment adviser shall ensure that,-

4 · [See Regulation 3]

5 · [Application for Grant of Certificate of Registration]

1 · GENERAL INFORMATION

4 · Substituted for the words "See Regulations 3 and 11"by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016.

5 · Substituted for the words "Application for Grant of Certificate of Registration/Renewal as investment adviser"by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016.

2 · DETAILS OF APPLICANT (Provide details of only the section applicable to you)

3 · BUSINESS PLAN

4 · DETAILS OF INFRASTRUCTURE

5 · EXECUTION SERVICES

6 · OTHER INFORMATION/DECLARATIONS/ REGULATORY ACTIONS

7 · DECLARATION STATEMENT

7 · [SECOND SCHEDULE

10 · [An investment adviser who has been granted a certificate of registration, to keep its registration in force, shall pay fee prescribed at paragraph 2 above every five

7 · Substituted by the SEBI (Payment of Fees) (Amendment) Regulations, 2014, w.e.f 23.05.2014. Prior to its substitution, the Second Schedule read as under:

1 · "Every applicant shall pay non-refundable application fees of five thousand rupees along with the application for grant or renewal of certificate of registration.

2 · Applicants which are individuals and firms shall pay a sum of ten thousand rupees as registration/ renewal fee at the time of grant or renewal of certificate by the Board.

3 · A body corporate shall pay a sum of one lakh rupees as registration/ renewal fee at the time of grant or renewal of certificate by the Board.

4 · The fee referred to in paragraph 1, 2 and 3 shall be paid by the applicant within fifteen days from the date of receipt of intimation from the Board by a demand draft in favor of 'Securities and Exchange Board of India' payable at Mumbai or at respective regional or local office."

8 · The words "or renewal" omitted by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016.

9 · The words "/renewal" omitted by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016.

11 · [The fee referred to in paragraph 2 shall be paid by the applicant within fifteen days from the date of receipt of intimation from the Board by way of demand draft in favour of Securities and Exchange Board of India' payable at Mumbai or at respective regional or local office. or by way of direct credit in the bank account through NEFT/RTGS/IMPS or any other mode allowed by RBI.]

1 · Honesty and fairness

2 · Diligence

3 · Capabilities

10 · Inserted by the by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016.

11 · by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016.

4 · Information about clients

5 · Information to its clients

6 · Fair and reasonable charges

7 · Conflicts of interest

8 · Compliance

9 · Responsibility of senior management