The SEBI (Securities and Exchange Board of India), on 13th January 2021 released a notification under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), regarding the repealing of Securities and Exchange Board of India (Central Database of Market Participants) Regulations, 2003. The said notification says “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”.
The said notification further makes it clear that the notification of repealing 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.
The said notification also mentions that, “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continued or enforced and any such penalty or punishment may be imposed as if the said regulations had not been repealed”.
No. SEBI/LAD-NRO/GN/2021/05,
AJAY TYAGI, Chairman
[ADVT-III/4/Exty./454/2020-21].
