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Core Purpose

Notification by the Securities and Exchange Board of India repealing the SEBI (Ombudsman) Regulations, 2003, through the Securities and Exchange Board of India (Ombudsman) (Repeal) Regulations, 2023.

Detailed Summary

The Securities and Exchange Board of India (SEBI), Mumbai, vide Notification No. SEBI/LAD-NRO/GN/2023/138 dated 3rd July 2023, exercising powers under Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), made the Securities and Exchange Board of India (Ombudsman) (Repeal) Regulations, 2023, effective from the date of publication in the Official Gazette, which repeal the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 in their entirety; the repeal expressly does not affect the previous operation of the repealed regulations, any rights, privileges, obligations or liabilities accrued, any penalties or punishments incurred, or any investigation, legal proceeding or remedy relating thereto, all of which may continue to be instituted, continued, or enforced as if the 2003 Regulations had not been repealed; signed by Babitha Rayudu, Executive Director, under ADVT.-III/4/Exty./248/2023-24.

Full Text

EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 467] NEW DELHI, MONDAY, JULY 3, 2023/ASHADHA 12, 194 5 CG-MH-E-03072023-246973 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 3rd July 2023 SECURITIES AND EXCHANGE BOARD OF INDIA (OMBUDSMAN) (REPEAL) REGULATIONS, 2023 No. SEBI/LAD –NRO/GN/2023/138 .—In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby makes the following regulation s to repeal the Securities and Exchange Board of India (Ombudsman) Regulations, 2003, namely , — 1. These regulations may be called the Securities and Exchange Board of India (Ombudsman) (Repeal) Regulations, 2023. 2. They shall come into force on the date of t heir publication in the Official Gazette. 3. On and from the commencement of these regulations, the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 shall stand repealed. 4. The repeal of the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 shall not affect — (i) the previous operation of the said regulations or anything done or omitted to be done or suffered therein; (ii) any right, privilege, obligation or liability acquired or accrued or incurred under the said regulations; (iii) any penalty or punishment incurred in respect of any contravention or offence committed under the said regulations; (iv) any investigation, legal proceedings or remedy in respect of any such right, privilege, obligation, liability, penalty or punishment as aforesa id. 5. Any such investigation, legal proceeding or remedy may be instituted, continued or enforced and any such penalty or punishment may be imposed as if the Securities and Exchange Board of India (Ombudsman) Regulations, 2003 had not been repealed. BABITH A RAYUDU , Executive Director [ADVT. -III/4/Exty./248/2023 -24] Uploaded by Dte . of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054 .

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