MANU/SREG/0036/2011
Ministry : Securities and Exchange Board of India
Department/Board
: Legal Affairs Department
Notification
No. : LAD-NRO/GN/2011-12/24/30181
Date
:
23.09.2011
Securities And Exchange Board Of India (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011
In exercise of the powers conferred
under section 30 read with clause (h) of sub-section (2) of section 11 of the
Securities and Exchange Board of India Act, 1992 (15 of 1992) the Securities and
Exchange Board of India hereby, makes the following regulations, namely: --
CHAPTER -I
PRELIMINARY
Short title, commencement and applicability.
1.
(1) These regulations may be called the Securities and Exchange Board of
India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
(2) These regulations shall come into force on the thirtieth day from the
date of their publication in the Official Gazette.
(3) These regulations shall apply to direct and indirect acquisition of
shares or voting rights in, or control over target company.
Definitions.
2.
(1) In these regulations, unless the context otherwise requires, the terms
defined herein shall bear the meanings assigned to them below, and their cognate
expressions and variations shall be construed accordingly,--
(a) "acquirer" means any person who, directly or indirectly,
acquires or agrees to acquire whether by himself, or through, or with persons
acting in concert with him, shares or voting rights in, or control over a target
company;
(b) "acquisition" means, directly or indirectly, acquiring or
agreeing to acquire shares or voting rights in, or control over, a target
company;
(c) "Act" means the Securities and Exchange Board of India Act,
1992 (15 of 1992);
(d) "Board" means the Securities and Exchange Board of India
established ........