BSE has issued the following circulars to the Listed Companies regarding amendments to SEBI Regulations and Circulars issued by SEBI
BSE Circular Date
|
BSE Circular Number
|
Circular Title
|
Effective Date
| |
1
|
January 7, 2019
|
LIST/COMP/34/2018-19
|
Acceptance of Probate of Will or Will for Transmission of Securities held in dematerialized mode
|
January 4, 2019
|
2
|
January 7, 2019
|
LIST/COMP/35/2018-19
|
Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2018
|
December 31, 2018
|
3
|
January 8, 2019
|
LIST/COMP/36/2018-19
|
Securities and Exchange Board of India (Issue of Capital And Disclosure Requirements) (Amendment) Regulations, 2018
|
December 31, 2018
|
4
|
January 8, 2019
|
LIST/COMP/37/2018-19
|
Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2018
|
April 1, 2019
|
1. BSE Circular no LIST/COMP/34/2018-19 dated January 7, 2019 titled “Acceptance of Probate of Will or Will for Transmission of Securities held in dematerialized mode”
Securities and Exchange Board of India (SEBI) has issued Circular SEBI/HO/MIRSD/DOP/CIR/P/ 2019/05 dated January 04, 2019 regarding “Acceptance of Probate of Will or Will for Transmission of Securities held in dematerialized mode”.
The summary of the aforesaid SEBI Circular is given hereunder.
1.
In terms of Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Sixth Amendment) Regulations, 2018,
succession certificate or probate of will or will or letter of
administration or court decree, as may be applicable in terms of Indian
Succession Act, 1925 has been prescribed as documentary requirement for
transmission of securities held in physical mode.
2.
With regard to transmission of securities held in dematerialized mode,
the same is dealt in terms of bye laws of the Depositories. In order to
harmonize the procedures for transmission of securities in
dematerialized mode with that of transmission of securities in physical
mode, it has been decided that transmission of securities held in
dematerialized mode shall be dealt in line with Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) (Sixth
Amendment) Regulations, 2018.
This circular is available at: https://www.bseindia.com/corporates/Displaydata.aspx?Id=d424628b-1dc4-4491-accd-ef0625c5d168&Page=cir
2. BSE Circular no LIST/COMP/35/2018-19 dated January 7, 2019 titled
“Securities and Exchange Board of India (Substantial Acquisition of
Shares and Takeovers) (Third Amendment) Regulations, 2018"
Securities
and Exchange Board of India (SEBI) has notified the Third Amendment to
the (Substantial Acquisition of Shares and Takeovers) (Third Amendment)
Regulations, 2018 vide notification No. SEBI/LAD-NRO/GN/2018/55 dated
December 31, 2018.
The summary of the aforesaid amendment is given hereunder.
- Sub-regulation 4 of Regulation 29 (Disclosure of acquisition and disposal) provides that shares taken by way of encumbrance shall be treated as an acquisition and shares given upon release of encumbrance shall be treated as a disposal, and disclosures shall be made by such person accordingly in such form as may be specified
However, proviso to Sub-regulation 4 currently exempts “scheduled
commercial bank” or “public financial institution” as pledgee in
connection with a pledge of shares for securing indebtedness in the
ordinary course of business, from the disclosure requirement provided in said regulation:
- The current amendment has now extended the said exemption to “housing finance company” and a “systemically important non-banking financial company”.
This circular is available at: https://www.bseindia.com/corporates/Displaydata.aspx?Id=a5cdd42a-4fd6-4347-a347-183cf6d37857&Page=cir
3. BSE Circular no LIST/COMP/36/2018-19 dated January 8, 2019 titled
“Securities and Exchange Board of India (Issue of Capital And
Disclosure Requirements) (Amendment) Regulations, 2018 "
Securities and Exchange Board of India (SEBI) has on December
31, 2018 notified the Securities and Exchange Board of India (Issue of
Capital and Disclosure Requirements) (Amendment) Regulations, 2018, vide
notification No. SEBI/LAD-NRO/GN/2018/57.
The said amendment has made in Regulation 253 and Schedule XVI of the ICDR Regulation 2018.
This circular is available at: https://www.bseindia.com/corporates/Displaydata.aspx?Id=eb79aebd-e681-424a-bdbe-d9c358b67106&Page=cir
4. BSE Circular no LIST/COMP/37/2018-19 dated January 8, 2019 titled
“Securities and Exchange Board of India (Issue of Capital And
Disclosure Requirements) (Amendment) Regulations, 2018 "
Securities
and Exchange Board of India (SEBI) has on December 31, 2018 notified
the Securities and Exchange Board of India (Prohibition of Insider
Trading) (Amendment) Regulations, 2018, vide notification No.
SEBI/LAD-NRO/GN/2018/59.
This circular is available at: https://www.bseindia.com/corporates/Displaydata.aspx?Id=cc42f883-eda1-44a6-a23d-a7af2ef5b749&Page=cir
Listed Companies are requested to take note of these circulars and comply accordingly.
Thanks & Best Regards,
To,
The Compliance Officer / Company Secretary
Dear Sir / Madam
BSE has issued the following circulars to the Listed Companies regarding amendments to SEBI Regulations and Circulars issued by SEBI
BSE Circular Date
|
BSE Circular Number
|
Circular Title
|
Effective Date
| |
1
|
January 7, 2019
|
LIST/COMP/34/2018-19
|
Acceptance of Probate of Will or Will for Transmission of Securities held in dematerialized mode
|
January 4, 2019
|
2
|
January 7, 2019
|
LIST/COMP/35/2018-19
|
Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2018
|
December 31, 2018
|
3
|
January 8, 2019
|
LIST/COMP/36/2018-19
|
Securities and Exchange Board of India (Issue of Capital And Disclosure Requirements) (Amendment) Regulations, 2018
|
December 31, 2018
|
4
|
January 8, 2019
|
LIST/COMP/37/2018-19
|
Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2018
|
April 1, 2019
|
1. BSE Circular no LIST/COMP/34/2018-19 dated January 7, 2019 titled “Acceptance of Probate of Will or Will for Transmission of Securities held in dematerialized mode”
Securities and Exchange Board of India (SEBI) has issued Circular SEBI/HO/MIRSD/DOP/CIR/P/ 2019/05 dated January 04, 2019 regarding “Acceptance of Probate of Will or Will for Transmission of Securities held in dematerialized mode”.
The summary of the aforesaid SEBI Circular is given hereunder.
1.
In terms of Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) (Sixth Amendment) Regulations, 2018,
succession certificate or probate of will or will or letter of
administration or court decree, as may be applicable in terms of Indian
Succession Act, 1925 has been prescribed as documentary requirement for
transmission of securities held in physical mode.
2.
With regard to transmission of securities held in dematerialized mode,
the same is dealt in terms of bye laws of the Depositories. In order to
harmonize the procedures for transmission of securities in
dematerialized mode with that of transmission of securities in physical
mode, it has been decided that transmission of securities held in
dematerialized mode shall be dealt in line with Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) (Sixth
Amendment) Regulations, 2018.
This circular is available at: https://www.bseindia.com/corporates/Displaydata.aspx?Id=d424628b-1dc4-4491-accd-ef0625c5d168&Page=cir
2. BSE Circular no LIST/COMP/35/2018-19 dated January 7, 2019 titled
“Securities and Exchange Board of India (Substantial Acquisition of
Shares and Takeovers) (Third Amendment) Regulations, 2018"
Securities
and Exchange Board of India (SEBI) has notified the Third Amendment to
the (Substantial Acquisition of Shares and Takeovers) (Third Amendment)
Regulations, 2018 vide notification No. SEBI/LAD-NRO/GN/2018/55 dated
December 31, 2018.
The summary of the aforesaid amendment is given hereunder.
- Sub-regulation 4 of Regulation 29 (Disclosure of acquisition and disposal) provides that shares taken by way of encumbrance shall be treated as an acquisition and shares given upon release of encumbrance shall be treated as a disposal, and disclosures shall be made by such person accordingly in such form as may be specified
However, proviso to Sub-regulation 4 currently exempts “scheduled
commercial bank” or “public financial institution” as pledgee in
connection with a pledge of shares for securing indebtedness in the
ordinary course of business, from the disclosure requirement provided in said regulation:
- The current amendment has now extended the said exemption to “housing finance company” and a “systemically important non-banking financial company”.
This circular is available at: https://www.bseindia.com/corporates/Displaydata.aspx?Id=a5cdd42a-4fd6-4347-a347-183cf6d37857&Page=cir
3. BSE Circular no LIST/COMP/36/2018-19 dated January 8, 2019 titled
“Securities and Exchange Board of India (Issue of Capital And
Disclosure Requirements) (Amendment) Regulations, 2018 "
Securities and Exchange Board of India (SEBI) has on December
31, 2018 notified the Securities and Exchange Board of India (Issue of
Capital and Disclosure Requirements) (Amendment) Regulations, 2018, vide
notification No. SEBI/LAD-NRO/GN/2018/57.
The said amendment has made in Regulation 253 and Schedule XVI of the ICDR Regulation 2018.
This circular is available at: https://www.bseindia.com/corporates/Displaydata.aspx?Id=eb79aebd-e681-424a-bdbe-d9c358b67106&Page=cir
4. BSE Circular no LIST/COMP/37/2018-19 dated January 8, 2019 titled
“Securities and Exchange Board of India (Issue of Capital And
Disclosure Requirements) (Amendment) Regulations, 2018 "
Securities
and Exchange Board of India (SEBI) has on December 31, 2018 notified
the Securities and Exchange Board of India (Prohibition of Insider
Trading) (Amendment) Regulations, 2018, vide notification No.
SEBI/LAD-NRO/GN/2018/59.
This circular is available at: https://www.bseindia.com/corporates/Displaydata.aspx?Id=cc42f883-eda1-44a6-a23d-a7af2ef5b749&Page=cir
Listed Companies are requested to take note of these circulars and comply accordingly.
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