Regulation 50 - General Conditions - Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021

CHAPTER V ISSUANCE AND LISTING OF PERPETUAL DEBT INSTRUMENTS, PERPETUAL NON-CUMULATIVE PREFERENCE SHARES AND SIMILAR INSTRUMENTS General Conditions 50. (1) Issuers permitted by the Reserve Bank of India to issue perpetual debt instruments, perpetual non-cumulative preference shares and instruments of similar nature forming part of non-equity regulatory capital may list such instruments after complying with the conditions stipulated under this chapter. (2) An issuer may issue such instruments in compliance with the guidelines issued by the Reserve Bank of India and/or any other relevant laws applicable to them. (3) Issuers of these securities shall be required to make the following disclosures: (a) disclosures as specified under 2 [ Schedule I ] ; (b) any disclosure as may be provided under the guidelines framed by the Reserve Bank of India or the Companies Act, 2013 (18 of 2013) , as applicable; (c) any other disclosures as may be specified by the Board. (4) The issuer shall comply with the terms and conditions as may be specified by the Board from time to time and shall make adequate disclosures in the offer document regarding the features of these instruments and relevant risk factors and if such instruments are listed, shall comply with the listing regulations. 1 [ (5) The designated stock exchange shall collect a regulatory fee as specified in Schedule VI to these regulations from an issuer of perpetual debt instruments, perpetual non-cumulative preference shares and similar instruments at the time of their listing. ] ************ NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2023/119 dated 02-02-2023 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/135 dated 03-07-2023 before it was read as, Schedule II