Bombay HC: Clarifies Procedure for Executing Foreign Decrees  ||  Supreme Court: Bureaucratic Delay No Excuse  ||  Supreme Court Grants Full Disability Pension Arrears to Veterans  ||  Delhi HC: Workman Cannot Claim Section 17(B) of the ID Act Wages after Reaching Superannuation Age  ||  Allahabad HC: Caste by Birth Remains Unchanged Despite Conversion or Inter-Caste Marriage  ||  Delhi High Court: Tweeting Corruption Allegations Against Employer Can Constitute Misconduct  ||  Delhi High Court: State Gratuity Authorities Lack Jurisdiction over Multi-State Establishments  ||  Kerala High Court: Arrest Grounds Need Not Mention Contraband Quantity When No Seizure is Made  ||  SC: Silence During Investigation Does Not Ipso Facto Mean Non-Cooperation to Deny Bail  ||  Supreme Court: High Courts Cannot Re-Examine Answer Keys Even in Judicial Service Exams    

Securities and Exchange Board of India (International Financial Services Centres) Guidelines, 2015-Amendments- (Securities and Exchange Board of India) (09 Jul 2020)

MANU/SSMD/0037/2020

Capital Market

1. Kindly refer to SEBI (IFSC) Guidelines, 2015 which were notified by SEBI on March 27, 2015 and SEBI Circular dated July 27, 2017.

2. In order to further streamline the operations at IFSC, based on the internal discussions and consultations held with the stakeholders, it has been decided to amend clause 4 (1) of SEBI (IFSC) Guidelines, 2015 to read as follows:

"4. 1) Eligibility and shareholding limit for stock exchange desirous of operating in IFSC

Any Indian recognized stock exchange or any stock exchange of a foreign jurisdiction may form a subsidiary to provide the services of stock exchange in IFSC wherein at least fifty one per cent. of paid up equity share capital is held by such stock exchange and remaining share capital may be offered to any other person (whether Indian or of foreign jurisdiction) and such person shall not at any time, directly or indirectly, either individually or together with persons acting in concert, acquire or hold more than five per cent of the paid up equity share capital in a recognised stock exchange in IFSC, subject to applicable law.

Provided that,--

(a) a stock exchange,

(b) a depository,

(c) a banking company,

(d) an insurance company,

(e) a commodity derivatives exchange

[whether Indian or of foreign jurisdiction for (a) to (e)]

(g) a public financial institution of Indian jurisdiction, and

(h) a bilateral or multilateral financial institution approved by the Central Government,

may acquire or hold, either directly or indirectly, either individually or together with persons acting in concert, upto fifteen per cent of the paid up equity share capital of a recognised stock exchange with prior approval of the Board.

Provided further that the provisions of Regulation 19 and 20 of Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 should be complied with".

3. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.

Tags : GUIDELINES   AMENDMENTS   INTERESTS   INVESTORS  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved