SEBI Replaces Notary Attestation with Self-Attestation in Regulations
SEBI recently made an important change to its regulations concerning the attestation of documents. The Securities and Exchange Board of India (‘SEBI’) announced the SEBI (Attestation of Documents) (Amendment) Regulations, 2024 on 28-11-2024. This update impacts multiple regulations, including the SEBI (Custodian of Securities) Regulations, 1996, SEBI (Credit Rating Agencies) Regulations, 1999, and several others. The new regulations went into effect on the same day they were announced.
The key change in these regulations is the replacement of notary attestation with self-attestation in various forms and applications. For example, in the SEBI (Custodian of Securities) Regulations, 1996, Form A now requires self-attestation instead of notary attestation. Similar changes have been made to forms in other regulations like SEBI (Credit Rating Agencies) Regulations, 1999, and SEBI (Buy-back of Securities) Regulations, 2018.
These changes simplify the process for individuals and companies seeking exemptions or waivers under these regulations. For instance, applications that previously required a duly sworn affidavit now only need to be self-attested. This streamlining of the attestation process aims to make compliance easier and more efficient for all parties involved.
Overall, the recent amendments by SEBI signal a shift towards self-attestation as the preferred method for verifying documents in the securities and exchange space. This move is expected to reduce administrative burden and speed up the process of regulatory compliance for market participants.
