SEBI Replaces Notary Attestation with Self-Attestation in Regulations

SEBI, or the Securities and Exchange Board of India, recently made a significant change that might make your life a little easier when dealing with financial regulations. On November 28, 2024, SEBI announced the SEBI (Attestation of Documents) (Amendment) Regulations, 2024. This update affects nine different regulations, including those related to custodians, credit rating agencies, substantial acquisition of shares and takeovers, and more.

So, what’s the big change? Well, SEBI has replaced the requirement of notary attestation with self-attestation in various forms across these regulations. This means you no longer have to go through the hassle of getting your documents attested by a notary. Instead, you can simply self-attest them, making the whole process a lot more streamlined.

For example, in the SEBI (Custodian) Regulations, 1996, SEBI (Credit Rating Agencies) Regulations, 1999, SEBI {KYC (Know Your Client) Registration Agency} Regulations, 2011, and SEBI (Index Providers) Regulations, 2024, the requirement of notary attestation has been replaced with self-attestation in Form A of the First Schedule.

In the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, the amendment now states that for seeking exemption, a self-attested application must be filed with the board instead of a duly sworn affidavit. Similarly, in the SEBI (Buy-back of Securities) Regulations, 2018, the application for seeking relaxation should now be self-attested instead of supported by a sworn affidavit.

These changes apply to a range of regulations, making it simpler and easier for individuals dealing with securities and exchange matters. With this update, SEBI aims to make the process more efficient and user-friendly for everyone involved. So, the next time you’re dealing with these regulations, remember – you can now self-attest your documents!