Notification repealing SEBI (Central Database of Market Participants) Regulations, 2003

Last updated: 19 January 2021

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Quick Summary

The Securities and Exchange Board of India (SEBI) has repealed the Securities and Exchange Board of India (Central Database of Market Participants) Regulations, 2003, effective immediately. This repeal does not impact past actions, rights, liabilities, or any ongoing legal proceedings or penalties incurred under the old regulations. Investigations and enforcement actions can continue as if the regulations were still in place.

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

MUMBAI, the 13th January, 2021

Notification repealing the Securities and Exchange Board of India (Central Database of
Market Participants) Regulations, 2003

No. SEBI/LAD-NRO/GN/2021/05 – 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 repeals with immediate effect the Securities and Exchange Board of India (Central Database of Market Participants) Regulations, 2003 published in Part-III, Section 4 of the Gazette of India, Extraordinary, under notification of the Securities and Exchange Board of India number F. No. SEBI/LE/26/2003 dated the 20th November, 2003.

1. The repeal of the said regulations 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 aforesaid.

2. 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continued or enforced and any such penalty or punishment may be imposed as if the said regulations had not been repealed.

AJAY TYAGI
CHAIRMAN
SECURITIES AND EXCHANGE BOARD OF INDIA

FAQ :

SEBI has repealed the Securities and Exchange Board of India (Central Database of Market Participants) Regulations, 2003.

The repeal took effect immediately from the date of the notification, which was January 13, 2021.

No, the repeal does not affect the previous operation of the regulations, nor any right, privilege, obligation, or liability acquired or incurred under them.

Any penalty or punishment incurred for contraventions or offences committed under the repealed regulations, as well as any investigation or legal proceedings, can still be enforced as if the regulations had not been repealed.

The notification was issued by the Securities and Exchange Board of India (SEBI), signed by its Chairman, Ajay Tyagi.