Securities and Exchange Board of India (Employees' Service) Regulations, 2001
Summary
This part comprises the Preliminary Chapter of the Securities and Exchange Board of India (Employees' Service) Regulations, 2001 as amended up to July 11, 2026 made under section 30 of the SEBI Act, 1992. It provides the short title, commencement on publication in the Official Gazette, and applicability to every whole-time employee appointed under section 9(1) or transferred under section 10(1)(g) with a proviso excluding temporary or contract persons except as otherwise decided by the Board. It defines terms including Act, Board, Chairman, compensatory allowance, Competent Authority, Dependent, deputation, duty, external assignment, family members, Financial investment, leave pay, Non-permitted Investment, OEC and Pay. This part defines terms including permitted investment, personal pay, professional interest, relational interest, relative, special allowance, special pay, substantive pay, year and service and provides interpretation rules for undefined expressions and gender-inclusive construction. It confers powers on the Chairman to delegate and implement the Regulations and on the Board to waive strict application, with superior authorities able to exercise lower authorities' p
Text
In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992, the Board hereby makes the following regulations defining the terms and conditions of service of its employees:
These regulations may be called the Securities and Exchange Board of India (Employees' Service) Regulations, 2001.
They shall come into force on the date of their publication in the Official Gazette.
These regulations shall apply to every whole-time employee appointed by the Board under sub-section (1) of section 9 of the Act and to every whole-time employee transferred to the Board under [clause (g)] of sub-section (1) of section 10 of the Act.
Provided that they shall not apply, except as otherwise provided in these regulations or to such extent as may be specifically or generally decided by the Board, to persons employed temporarily or on contracts.
"Act" means the Securities and Exchange Board of India Act, 1992 (15 of 1992).
"Board" means the Securities and Exchange Board of India constituted under Section 3 of the Act.
"Chairman" means the Chairman of the Board and, in relation to the powers exercisable by him, includes whole- time member of the Board or a Committee of Executive Directors or Executive Director or any other officer to whom the powers under these regulations may be delegated by the Chairman.
"compensatory allowance" means an allowance granted to meet expenditure necessitated by the special circumstances in which the duty is performed.
"Competent Authority" means, (i) [In the case of officers, the Chairman], which expression shall also include whole- time member of the Board or Executive Director, in regard to any matter or power to be dealt with or exercisable by the Chairman under these Regulations, but which are delegated to him. (ii) In the case of all other employees, concerned Executive Director, which expression shall also include, any officer lower in rank, in regard to any matter or power to be dealt with or exercised by the Executive Director under these Regulations, but which are delegated to him.
"Dependent" includes: (i) "Dependent children" which means children of an employee who are eligible for receiving medical or Leave Fare Concession benefit from SEBI; (ii) "Substantially dependent" which means a person who is included in family of the employee for receiving medical or Leave Fare Concession benefit from SEBI. Explanation: For the purpose of this definition, a person who is otherwise not dependent on the employee but is added in the Group Mediclaim Policy of SEBI as a non-dependent for which the premium is borne separately by the employee shall not be considered as 'substantially dependent'.
"deputation" means temporary posting to another organisation wherein the accrual and disbursement of remuneration including pay, allowances and perquisites would be borne by the borrowing organisation.
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Source: SecMarx — Securities and Exchange Board of India (Employees' Service) Regulations, 2001. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.