The Securities and Exchange Board of India through notification dated 30th March, 2021 has issued the Securities and Exchange Board of India (Underwriters) (Repeal) Regulations, 2021. The Securities and Exchange Board of India (Underwriters) Regulations, 1993 is repealed by this regulation and the certificate of registration granted to any person under the Securities and Exchange Board of India (Underwriters) Regulations, 1993 shall deemed to be surrendered.
The repeal of the Securities and Exchange Board of India (Underwriters) Regulations, 1993 shall not affect the previous operation of the said regulations or anything done or omitted to be done or suffered therein. Any investigation, legal proceedings or remedy in respect of any action conducted before repeal of the act may be instituted, continued or enforced and any such penalty or punishment may be imposed as if the Securities and Exchange Board of India (Underwriters) Regulations, 1993 had not been repealed.
