On 28-11-2024, the Securities and Exchange Board of India (‘SEBI’) notified the SEBI (Attestation of Documents) (Amendment) Regulations, 2024 to amend the SEBI (Custodian of Securities) Regulations, 1996, SEBI (Credit Rating Agencies) Regulations, 1999, SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, SEBI {KYC (Know Your Client) Registration Agency} Regulations, 2011, SEBI (Buy-back of Securities) Regulations, 2018, SEBI (Depositories and Participants) Regulations, 2018, SEBI (Settlement Proceedings) Regulations, 2018, SEBI (Delisting of Equity Shares) Regulations, 2021, and SEBI (Index Providers) Regulations, 2024. The 2024 amendment Regulations came into force on 28-11-2024.
Key Points:
-
Through the amendment, the requirement of attestation by a notary has been replaced with self-attestation in Form A of the First Schedule in the SEBI (Custodian) Regulations, 1996, in Form A of the First Schedule in SEBI (Credit Rating Agencies) Regulations, 1999, in Form A of the First Schedule in SEBI {KYC (Know Your Client) Registration Agency} Regulations, 2011, and in Form A of Schedule I in SEBI (Index Providers) Regulations, 2024.
-
The 2024 Regulations has amended Regulation 11(3) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 to provide that for seeking exemption as mentioned in Regulation 11(1), a self-attested application must be filed with the board. Earlier, the application had to be supported with a duly sworn affidavit.
-
Clause (ii) of Regulation 28 in the SEBI (Buy-back of Securities) Regulations, 2018 has been amended to provide that the application filed by the company for seeking relaxation should be self-attested. Earlier, the application had to be supported by a duly sworn affidavit.
-
The requirement of attestation by an authorized notary has been replaced with self-attestation in Forms A, C, and F in the First Schedule of the SEBI (Depositories and Participants) Regulations, 2018.
-
The 2024 Regulations have amended the requirement in the format for undertakings and waivers in Part C of Schedule I of the SEBI (Settlement Proceedings) Regulations, 2018 whereby the undertaking by the applicants have to be submitted with a self-attested application.
-
Regulation 42(2) of SEBI (Delisting of Equity Shares) Regulations, 2021 has been amended to provide that the application to be filed for seeking relaxation has to be self-attested as opposed to the earlier requirement of being supported by a duly sworn affidavit.
