TMI BlogSecurities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2013.X X X X Extracts X X X X X X X X Extracts X X X X ..... Shares and Takeovers) (Amendment) Regulations, 2013 No. LAD-NRO/GN/2012-13/36/7368.- In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) , the Board hereby makes the following Regulations to amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 , namely :- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of closure of the buy-back offer by the target company , shall be substituted. (ii) in regulation 13 , (a) in sub-regulation (2), (1) in clause (g) for the words, figures and numbers special resolution is passed for allotment of shares under sub-section (1A) of section 81 of the Companies Act, 1956 the words the board of directors of the target company authorises such preferential is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -regulation (2) of regulation 13, shall be made on the date of first such acquisition, provided the acquirer discloses in the public announcement the details of the proposed subsequent acquisition. (iii) in regulation 22 , after sub-regulation (2), the following new sub-regulation shall be inserted, namely- (2A) Notwithstanding anything contained in sub-regulation (1) an acquirer may a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rough the preferential issue is not successful. (v) in regulation 29 , sub-regulation (2), shall be substituted with following, namely- Any person, who together with persons acting in concert with him, holds shares or voting rights entitling them to five per cent or more of the shares or voting rights in a target company, shall disclose the number of shares or voting rights held and chang ..... X X X X Extracts X X X X X X X X Extracts X X X X
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