SEBI (Employees' Service) (Amendment) Regulations, 2016 (w.e.f. November 30, 2016)

THE GAZETTE OF INDIA

EXTRAORDINARY PART – III – SECTION 4

PUBLISHED BY AUTHORITY

NEW DELHI, NOVEMBER 30, 2016

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION

Mumbai, the 30th November, 2016

SECURITIES AND EXCHANGE BOARD OF INDIA (EMPLOYEES' SERVICE) (AMENDMENT) REGULATIONS, 2016

No. LAD-NRO/GN/2016-17/016.─In exercise of the powers conferred by section 30 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 (Employees' Service) Regulations, 2001, namely,–

1. These regulations may be called the Securities and Exchange Board of India (Employees' Service) (Amendment) Regulations, 2016.

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 (Employees' Service) Regulations, 2001,for regulation 94, the following shall be substituted, namely,-

"Subscription to the SEBI Provident Fund or the SEBI New Pension Scheme

94. (1)Unless otherwise specified in these regulations, every employee shall become a member of the SEBI Employee's Provident Fund and shall agree to be bound by the Rules of the Fund.

(2) Notwithstanding anything contained in sub-regulation (1), every whole time employee joining the services of the Board, on and from such date, as may be specified, shall only become a member of the SEBI New Pension Scheme and shall agree to be bound by the Rules of the Scheme.

(3) Every whole time employee of the Board who is a member of the SEBI Employee’s Provident Fund, prior to such date as may be specified, shall be given an option to remain a member of the SEBI Employee’s Provident Fund or to become a member of the SEBI New Pension Scheme, in such manner as may be specified.

U.K. SINHA

CHAIRMAN

SECURITIES AND EXCHANGE BOARD OF INDIA