Section 7C in Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015
7C. Receipt of Original Information by the Board.
(1)The Board may designate a division to function as the independent Office of Informant Protection.(2)The Office of Informant Protection shall perform such functions as may be specified by the Board, including, -i. Receiving and registering the Voluntary Information Disclosure Form;ii. Making all necessary communications with the Informant;iii. Maintaining a hotline for the benefit of potential Informant;iv. Maintaining confidentiality of the legal representative of the Informant and act as an interface between the Informant and the officers of the Board;v. Interacting with the Informant Incentive Committee;vi. Issuing press releases and rewards relating to Informant; andvii. Submitting an annual report to the Board relating to the functioning of the Office of Informant Protection.(3)On receipt of the Voluntary Information Disclosure Form, the Office of Informant Protection shall communicate the substance of the information along with the evidence submitted by the informant to the relevant department or division of the Board for examination and initiation of necessary action, if any.(4)The Board shall not be required to send any intimation or acknowledgement to the Informant or any other person, of the examination or action initiated by the Board, if any, pursuant to receipt of the Voluntary Information Disclosure Form or information under these regulations, including rejection thereof.
