SEBI (Infrastructure Investment Trusts) (Third Amendment) Regulations, 2014

Last updated: 26 October 2023

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The Securities and Exchange Board of India (SEBI) has issued the SEBI (Infrastructure Investment Trusts) (Third Amendment) Regulations, 2023. These amendments, effective from their publication in the Official Gazette, modify Regulation 18 of the 2014 InvITs Regulations. Specifically, they clarify the handling of unclaimed or unpaid amounts transferred to the Investor Protection and Education Fund, ensuring these funds do not accrue interest and can be claimed by investors in a manner specified by SEBI.

SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 20th 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 (Infrastructure 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 specified by the Board.”

BABITHA RAYUDU, Executive Director
[ADVT.-III/4/Exty./506/2023-24]

FAQ :

These are new regulations issued by SEBI to further amend the existing Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014.

The regulations come into force on the date of their publication in the Official Gazette.

Regulation 18, specifically sub-regulation (6), of the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014 has been amended.

Unclaimed or unpaid amounts transferred to the Investor Protection and Education Fund will not bear any interest. These amounts can be claimed by investors as specified by the Board.

The manner in which unclaimed or unpaid amounts transferred to the Investor Protection and Education Fund can be claimed will be specified by the Board.