SEBI (Employees' Service) (Amendment) Regulations, 2019

May 14, 2019 | by Avantis RegTech Legal Research Team

The Securities and Exchange Board of India (SEBI) on May 10, 2019, has published SEBI (Employees' Service) (Amendment) Regulations, 2019 to further amend the SEBI (Employees' Service) Regulations, 2001. It will come into force on the date of its publication in the Official Gazette that is on May 08, 2019. 

The amendments made in the SEBI (Employees' Service) Regulations, 2001 are:

 In Regulation 36A(5)(a) which talks about “Special hardship leave for female employees, eligibility, purpose of special hardship leave, period of special hardship leave, approving authority for special hardship leave”, after the words " house allowance" following words and explanation shall be inserted, namely,

"Such leave shall be without pay, perquisites and allowances except house allowances and claims for medical treatment availed in India: 

Explanation:- For the purpose of this clause, claim for the medical treatment, shall include, medical insurance, claim from Medical Assistance Fund, non-policy medical claims, eye refraction and annual health check-up; "

 In Regulation 36A(5), clause(ia) has been inserted, namely,

"(ia) A female employee, who leaves the services of the Board by way of resignation or voluntary retirement during the special hardship leave or within five years after resuming office after availing such leave, shall be liable to pay to the Board, an amount equal to the entire house allowance and medical claims paid during such leave: 

Provided that after approval of the competent authority, based on requisite documentary evidence, examination and certification by the Medical Officer of the Board, the payment of said amount from the female employee, who has availed special hardship leave on health grounds of self and that being the reason for which she is unable to resume office may be waived;"

[Notification No. SEBI/LAD-NRO/GN/2019/15]

Click here to download the Notification.


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