Securities and Exchange Board of India (Procedure for Board Meetings) (Amendment) Regulations, 2022– December 09, 2022

SEBI vide its notification dated December 09, 2022 amended the Securities and Exchange Board of India (Procedure for Board Meetings) Regulations, 2001. These Regulations may be called the Securities and Exchange Board of India (Procedure for Board Meetings) (Amendment) Regulations, 2022. They shall come into force on such date as the Board may by notification in the Official Gazette.

Sr. No. Part/Regulation/ Chapter/Section /Sub-section(s) Under Old Regulation Under New Regulation Comment 1. In regulation 4, the following Proviso shall be inserted – “Provided that a Member who intends to participate in a meeting through video conferencing or any other audio visual means, shall communicate the same, sufficiently in advance to the Chairperson or the Secretary of the Board and in such case, the procedure as specified in Schedule I to the SEBI (Procedure for Board Meetings) Regulations, 2001 shall be followed” 4. Place and time of meetings Meetings of the Board shall be held at such times and places in India as may be specified in the notice convening the meeting. 4. Place and time of meetings Meetings of the Board shall be held at such times and places in India as may be specified in the notice convening the meeting. “Provided that a Member who intends to participate in a meeting through video conferencing or any other audio visual means, shall communicate the same, sufficiently in advance to the Chairperson or the Secretary of the Board and in such case, the procedure as specified in Schedule I to the SEBI (Procedure for Board Meetings) Regulations, 2001 shall be followed” With this amendment, a requirement has been furnished on Member who intends to attend meeting through video conferencing or any other audio visual means to communicate to the Chairperson or the Secretary of the Board in advance. 2. In regulation 11, the word “Schedule” shall be substituted with the words and symbols “Schedule-II” The existing “Schedule” shall be renumbered as “Schedule II”. 11. Declaration of fidelity Every member, before entering upon his duties, shall sign a declaration of fidelity and secrecy in the form set out in the Schedule pledging himself to observe strict secrecy in relation to all transactions of the Board and all matters relating thereto and shall be by declaration pledge himself not to reveal any of the matters/information which may come to his knowledge in the discharge of his duties except when required or authorised to do so by the Board or by L