Published: Mumbai, January 15, 2015.

Preface: No. LAD-NRO/GN/2014-15/21/85.- In exercise of the powers conferred by section 30 read with clause (g) of sub-section (2) of section 11 and clause (d) and clause (e) of section 12A of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations, to put in place a framework for prohibition of insider trading in securities and to strengthen the legal framework thereof, namely:

1. These regulations may be called the SEBI (Prohibition of Insider Trading) Regulations, 2015.

2. These regulations shall come into force on the one hundred and twentieth day from the date of its publication in the Official Gazette.