Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2021

SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 11thJanuary, 2021

SECURITIES AND EXCHANGE BOARD OF INDIA (INVESTMENT ADVISERS) (AMENDMENT) REGULATIONS, 2021

No.SEBI/LAD-NRO/GN/2021/04.– In exercise of the powers conferred by sub-section (1) of section  30  read  with  clause  (b)  of  sub-section  (2)  of  section  11  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  (Investment Advisers) Regulations, 2013, namely, –

1.These  Regulations  may  be  called  the  Securities  and  Exchange  Board  of  India (Investment Advisers) (Amendment) Regulations, 2021. 

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  (Investment  Advisers) Regulations, 2013, -

I.after  clause  (m)  of  regulation  6,  the  following  clause  shall  be  inserted, namely, -

“(n) Whether  the  applicant  is  a  member  of  a  recognized  body  or  body corporate as specified under regulation 14:

Provided  that  the  existing  investment  advisers  shall  comply  with  the requirement  under  this  clause  in  such  manner  as  may  be  specified  by  the Board.”

II.in the Second Schedule, - 
i.in clause 1, 
a. sub-clause   (a)   shall   be   substituted with   the   following, namely, -

“For individuals and firms: ₹2,000”b.sub-clause   

(b)   shall   be   substituted   with   the   following, namely, -

“For body     Corporate     including     Limited     Liability Partnerships: ₹10,000”

ii. clause 2 shall be substituted with the following, namely,-

“2. Every applicant shall pay registration fee at the time of grant of certificate by the Board as under: 

a. For individuals and firms: ₹3,000

b. For body Corporate including Limited Liability Partnerships: ₹15,000”

iii.in clause 3, 

a. the  words “prescribed  at  paragraph  2  above”  shall be substituted with the words and symbol “specified below,”

b. after  the  words “has  been  paid”, the  symbol “.”shall  be substituted with the symbol “:” 

c. after the newly inserted “:”, the following sub-clauses shall be inserted, namely, -

“(a) for individuals and firms: ₹1,000 

(b) for    Body    Corporate    including    Limited    Liability Partnerships: ₹5,000”

Sd/-
AJAY TYAGI
CHAIRMAN
SECURITIES AND EXCHANGE BOARD OF INDIA
 

Footnote: 

1.The Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 were  published  in  the  Gazette  of  India  on  January  21, 2013  vide  No.  SEBI/LAD-NRO/GN/2012-13/31/1778.

2.The Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 were subsequently amended on, –

(1) 23rd May, 2014 by the Securities and Exchange  Board of India  (Payment  of Fees) (Amendment) Regulations, 2014 vide LAD-NRO/GN/2014-15/03/1089.

(2) 8th December, 2016 by the Securities and Exchange Board of India (Change in Conditions of  Registration of Certain    Intermediaries) (Amendment) Regulations, 2016 vide No. SEBI/LAD-NRO/GN/2016-17/023.

(3) 17th April, 2020 by the Securities and Exchange Board of India(Regulatory Sandbox) (Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/2020/10.

(4) 3rd July, 2020 by the  Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/2020/22.

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