GAZETTE OF INDIA EXTRAORDINARY PART III – SECTION 4 PUBLISHED BY AUTHORITY SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION

regulations · 1992 · State unknown

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

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GAZETTE OF INDIA EXTRAORDINARY PART III – SECTION 4 PUBLISHED BY AUTHORITY SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th March , 2024 SECURITIES AND EXCHANGE BOARD OF INDIA (INDEX PROVIDERS) REGULATIONS, 2024 A regulation to provide for a regulatory framework for Index Providers in the securities market with the objective of fostering transparency and accountability in governance and administration of Indices . No. SEBI/LAD -NRO/GN/2024/167. — In exercise of the powers conferred by sub-section (1) of Section 30 read with sub -section (2) of Section 11 and Section 12 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,— CHAPTER I PRELIMINARY Short title and commencement. (1) These regulations may be called the Securities and Exchange Board of India (Index Providers) Regulations, 2024 . These regulations shall come into force on the one hundred and eightieth 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 and their cognate expressions and variations shall be construed accordingly, — (a) “Act” means the Securities and Exchange Board of India Act, 1992 (15 of 1992); (b) "Administration" means all stages and processes involved in the production and dissemination of a benchmark or index, and includes— (i) collecting, analyzing or processing information or expressions of opinion for the purposes of determination of a benchmark or index; (ii) determining a benchmark or index through the application of a formula or through an other method of calculating the information or expressions of opinio

Rule TOC

11 · (1) If after considering an application made under regulation 4, the Board is of the opinion that a certificate of registration shall not be granted, it may, after giving the applicant a reasonable opportunity of being heard, reject the application.

1 · 0 PARTICULARS OF THE APPLICANT

1 · 1 Name, address of the registered office , address for correspondence, telephone number(s), fax number(s) and name of the contact person of the company. Address of branch offices, if any.

1 · 2 Date of incorporation of the Applicant company (enclose certificate of incorporation and memorandum and articles of association). Specify the following:

1 · Substituted for the words "attested as true by a notary public" by the Securities and Exchange Board of India (Attestation of Documents) (Amendment) Regulations, 2024, w.e.f. 28-11-2024 .

1 · 3 Category to which the Applicant company belongs to:

1 · 4 Category to which the Applicant company belongs to (refer regulation 4)

2 · 0 ELIGIBILITY CRITERIA

2 · 1 . Net worth of the company as per the last audited accounts not earlier than three months from the date of application [refer regulation 5 (b)]. Enclose a certificate by Chartered Accountant/Certified Public Accountant certifying the same.

3 · 0 PARTICULARS OF DIRECTORS/KEY PERSONNEL

3 · 1 Particulars of Directors of the company, which shall include name, qualification, experience, shareholding in the company and directorship in other companies.

3 · 2 Particulars of Key Personnel of the company, which shall include the name, designation in the company, qualification, previous positions held, experience, date of appointment in the company and functional areas.

4 · 0 INFRASTRUCTURE

4 · 1 Details of infrastructure including computing facilities, facilities for research and database available with the company and whether the existing infrastructure is adequate Any further plan for additional/ improved infrastructure to be indicated.

5 · 0 MAJOR SHAREHOLDERS

5 · 1 List of major shareholders (holding 5% and above of applicant directly or along with associates)

6 · 0 ASSOCIATE CONCERNS

6 · 1 Particulars of associate companies/concerns which shall include name, address, type of activity handled, nature of interest of the Applicant company in the associate, nature of interest of promoter(s) of the applicant in the associate.

6 · 2 Whether the Board has granted/ refused registration as Index Provider to any associate of the applicant, wherever applicable.

6 · 3 Give the details like date of application, date of refusal/registration, reasons for refusal etc.

7 · 0 BUSINESS INFORMATION OF THE COMPANY

7 · 1 History, major events and present activities. Details of experience in Index Provider related activities.

7 · 2 If the company is proposing to undertake the activity as an Index Provider for the first time, business plan of the company with projected volume of activities and income for which registration is sought to be specifically given.

7 · 3 Indices Related information (for use in Indian securities market)

7 · 4 Any other information considered relevant to the nature of services rendered by the applicant.

8 · 0 MISCELLANEOUS INFORMATION

9 · 0 FINANCIAL INFORMATION ABOUT THE APPLICANT

9 · 1 Net worth

9 · 2 Enclose audited annual accounts for the last three years. Where unaudited reports are submitted, give reasons. If minimum net worth requirement has been met after last audited annual accounts, audited statements of accounts of a later date shall also be submitted.

9 · 3 Name and Address of the Principal bankers of the Applicant company.

9 · 4 Name and address of the Auditors.

10 · 0 OTHER INFORMATION

10 · 1 Details of all pending litigations against the applicant company, directors and employees:

10 · 2 Indictment or involvement in any fraud or economic offences by the applicant or any of its Directors or Key Managerial Personnel, in the last three years.

11 · 0 DECLARATION

11 · 1 Give the following declarations signed by two directors: I/We hereby apply for registration.