Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2020
By INSOL India Editorial Team Posted On : August 18, 2020
Securities and Exchange Board of India (“SEBI”) on August 5, 2020, notified amendments to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. In regulation 42(1) in sub-regulation(1), the words and symbols “to all the stock exchange(s) where it is listed for the following purposes:”, shall be substituted with the words and symbols “for the following events to all the stock exchange(s) where it is listed or where stock derivatives are available on the stock of the listed entity or where listed entity’s stock form part of an index on which derivatives are available:” Further, regulation 42(1)(e) shall be substituted with “(e) corporate actions like mergers, de-mergers, splits, etc;”
A listed entity, prior to the amendment was required to intimate the record date to the stock exchange, merely where the entity was listed. However by virtue of this amendment a listed entity is required to make such intimation not only where it is listed on the stock exchange but also where stock derivatives are available on the stock of the listed entity or where listed entity’s stock form part of an index on which derivatives are available. Further, the amendment also modifies one of the purposes for which such intimation would be required.
A listed entity, prior to the amendment was required to intimate the record date to the stock exchange, merely where the entity was listed. However by virtue of this amendment a listed entity is required to make such intimation not only where it is listed on the stock exchange but also where stock derivatives are available on the stock of the listed entity or where listed entity’s stock form part of an index on which derivatives are available. Further, the amendment also modifies one of the purposes for which such intimation would be required.