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TMI BlogSECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) (SECOND AMENDMENT) REGULATIONS, 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... KEOVERS) (SECOND AMENDMENT) REGULATIONS, 2019 No. SEBI/LAD-NRO/GN/2019/27.-In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, namely: 1. These regul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e obligation to make an open offer under regulation 3." II. in regulation 28, sub-regulation (3) shall be substituted by the following sub-regulation, namely, - "(3) For the purposes of this Chapter, the term "encumbrance" shall include,- (a) any restriction on the free and marketable title to shares, by whatever name called, whether executed directly or indirectly; (b) pledge, lien, negat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... et company." AJAY TYAGI, CHAIRMAN [ADVT.-III/4/Exty./164/19] Footnotes: 1. The SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 were published in the Gazette of India on 23rd September, 2011 vide No. LAD-NRO/GN/2011 12/24/30181. 2. The Principal Regulations were subsequently amended on: (a) March 26, 2013 by the SEBI (Substantial Acquisition of Shares and Takeovers) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... NRO/GN/2015-16/009. (g) December 22, 2015 by the SEBI (Substantial Acquisition of Shares and Takeovers) (Fourth Amendment) Regulations, 2015 vide No. SEBI/LAD-NRO/GN/2015-16/026. (h) February 17, 2016 by the SEBI (Substantial Acquisition of Shares and Takeovers) (Amendment) Regulations, 2016 vide No. SEBI/LAD-NRO/GN/2015-16/035. (i) May 25, 2016 by the SEBI (Substantial Acquisition of Shares ..... X X X X Extracts X X X X X X X X Extracts X X X X
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