Regulation 16B - Omitted - Securities and Exchange Board of India (Issue And Listing Of Non-Convertible Redeemable Preference Shares) Regulations, 2013

[. ] 1 ] ******** 1 Omitted by the SEBI (Issue and Listing of Non-Convertible Redeemable Preference Shares) (Amendment) Regulations, 2018, w.e.f. 09-10-2018. Prior to this amendment, the regulation read as: Security Deposit. 16B. (1) The issuer shall deposit, before the opening of subscription list, and keep deposited with the stock exchange(s) an amount calculated at the rate of one per cent. of the amount of securities offered for subscription to the public. (2) The amount stipulated in sub-regulation (1) shall be deposited in the manner specified by Board and/or stock exchange(s). (3) The amount stipulated in sub-regulation (1) shall be refundable or forfeitable in the manner specified by the Board.]