7H. (1) Any information including Original Information may, at the discretion of the Board, be made available:

(a) when it is required to be disclosed in connection with any legal proceedings in furtherance of the Board’s legal position;
(b) as permitted by these regulations; or
(c) as may be otherwise required or permitted by law.

(2) Original Information may, at the discretion of the Board, be made available to –

(i) any regulatory agency constituted by or under any law in India or outside India;
(ii) any self-regulatory organization;
(iii) the surveillance or investigation wings of any recognised stock exchange or clearing corporation; or
(iv) any law enforcement organization including the police or any central or state revenue authorities; or
(v) a public prosecutor in connection with any criminal proceedings.

Provided that sharing of information shall be in accordance with such assurances of confidentiality as the Board determines appropriate.

Explanation – Nothing in these regulations is intended to limit, or shall be construed to limit, the ability of the public prosecutor to share such evidence with potential witnesses or accused in connection with any criminal proceedings.

(3) The Original Information and identity provided by an Informant shall be held in confidence and exempted from disclosure under clauses (g) and (h) of sub-section (1) of section 8 of the Right to Information Act, 2005 (No. 22 of 2005).

(4) Subject to the law of evidence for the time being in force, nothing in these regulations shall prejudice the right of the Board to use or to rely on information received otherwise.

(5) No person shall have the right to compel disclosure of the identity, existence of an Informant or the information provided by an Informant, except to the extent relied upon in any proceeding initiated against such person by the Board.

Explanation 1. – The confidentiality in respect of the identity and existence of the Informant shall be maintained throughout the process of investigation, inquiry and examination as well as during any proceedings before the Board and save where the evidence of the Informant is required during such proceedings, advance notice of such evidence may be provided to the noticee at least seven (7) working days prior to the date of the scheduled hearing for evidence.

Explanation 2. – In proceedings before any authority other than the Board, the Board may request maintenance of confidentiality of the identity and existence of an Informant in such proceeding.

The Securities and Exchange Board of India (Prohibition of Insider Trading) (Third Amendment) Regulations, 2019 dated 17.09.2019