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Core Purpose

Notification of the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Third Amendment) Regulations, 2023, amending regulation 18(6) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014.

Detailed Summary

On 20th October 2023, the Securities and Exchange Board of India issued Notification No. SEBI/LAD-NRO/GN/2023/159 under section 30 read with sections 11 and 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), notifying the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Third Amendment) Regulations, 2023, effective from the date of publication in the Official Gazette. The amendment modifies regulation 18(6) of the SEBI (Infrastructure Investment Trusts) Regulations, 2014 (originally published 26 September 2014 vide No. LAD-NRO/GN/2014-15/10/1577): in sub-clause (e), the full stop after "specified by the Board" is replaced with a colon, and a proviso is inserted stating that amounts transferred to the Investor Protection and Education Fund shall not bear any interest; a new sub-clause (f) is also inserted permitting unclaimed or unpaid amounts transferred to the Investor Protection and Education Fund under sub-clause (e) to be claimed in a manner specified by the Board. The notification lists fourteen prior amendments (2016-2023) to the principal 2014 regulations, including amendments effective November 30, 2016; December 15, 2017; April 10, 2018; April 22, 2019; March 02, 2020; April 17, 2020; June 16, 2020; July 30, 2021; August 31, 2021; May 4, 2022; January 1, 2023; February 14, 2023; July 4, 2023; and August 16, 2023. The notification was signed by Babitha Rayudu, Executive Director, SEBI.

Full Text

6725 GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 724] NEW DELHI , FRIDAY , OCTOBER 20, 2023/ ASVINA 28, 1945 CG-MH-E-23102023-249655 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 20 th October, 2023 SECURITIES AND EXCHANGE BOARD OF INDIA (INFRASTRUCTURE INVESTMENT TRUSTS) (THIRD AMENDMENT) REGULATIONS, 2023 No. SEBI/LAD -NRO/GN/2023/159 .— In exercise of the powers conferred under section 30 read with sections 11 and 12 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 (Infrastr ucture Investment Trusts) Regulations, 2014, namely: – 1. These regulations may be called the Securities and Exchange Board of India (Infrastructure Investment Trusts) (Third Amendment) Regulations, 2023. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, in regulation 18, in sub -regulation (6), – (1) in sub -clause (e), the symbol “.” after the words “specified by the Board” shall be substituted with the symbol “:”; (2) in sub -clause (e), the following proviso shall be inserted, namely, – “Provided that the amount transferred to Investor Protection and Education fund shall not bear any interest.” (3) after sub -clause (e), the following sub -clause shall be inserted, namely, – “(f) the unclaimed or unpaid amount of a person that has been transferred to the Investor Protection and Education Fund in terms of sub -clause (e), may be claimed in such manner as may be specifie d by the Board.” BABITHA RAYUDU, Executive Director [ADVT. -III/4/Exty./50 6/2023 -24] Footnotes: 1. The Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 was published in the Gazette of India on September 26, 2014 vide No. LAD -NRO/GN/2014 -15/10/1577. 2. The Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 was subsequently amended by the – a. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Re gulations, 2016, vide No. SEBI/LAD/NRO/GN/2016 -17/021, with effect from November 30, 2016. b. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2017, vide No. SEBI/LAD -NRO/GN/2017 -18/024, with effect from Decem ber 15, 2017. c. Securities and Exchange Board of India (Infrastructure Inv estment Trusts) (Amendment) Regulations, 2018, vide No. SEBI/LAD -NRO/GN/2018/07, with effect from April 10, 2018. d. Securities and Exchange Board of India (Infrastructure Investment Trus ts) (Amendment) Regulations, 2019, vide No. SEBI/LAD -NRO/GN/2019/10, wit h effect from April 22, 2019. e. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2020, vide No. SEBI/LAD -NRO/GN/2020/05, with effect fro m March 02, 2020. f. Securities and Exchange Board of India (Regulatory San dbox) (Amendment) Regulations, 2020, vide No. SEBI/LAD -NRO/GN/2020/10, with effect from April 17, 2020. g. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Secon d Amendment) Regulations, 2020 vide No. SEBI/LAD -NRO/GN/2020/15, with ef fect from June 16, 2020. h. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) Regulations, 2021 vide No. SEBI/LAD -NRO/GN/2021/27, with effect from July 30, 2021. i. Securities and Exchange Board of India (Regulatory Sandbox) ( Amendment) Regulations, 2021 vide No. SEBI/LAD -NRO/GN/2021/30, with effect from August 31, 2021. j. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Amendment) R egulations, 2022 vide No. SEBI/LAD -NRO/GN/2022/83, with effect from May 4, 2022. k. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Second Amendment) Regulations, 2022 vide No. SEBI/LAD -NRO/GN/2022/101 with effect from January 1, 20 23. l. Securities and Exchange Board of India (Infrastructure Investment T rusts) (Amendment) Regulations, 2023 vide No. SEBI/LAD -NRO/GN/2023/122 with effect from February 14, 2023. m. Securities and Exchange Board of India (Alternative Dispute Resolution Mecha nism) (Amendment) Regulations, 2023 vide No. SEBI/LAD –NRO/GN/2023/137 wi th effect from July 4, 2023. n. Securities and Exchange Board of India (Infrastructure Investment Trusts) (Second Amendment) Regulations, 2023 vide No. SEBI/LAD -NRO/GN/2023/145 with effec t from August 16, 2023 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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