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TMI BlogAmendments to other regulations [See regulation 100]X X X X Extracts X X X X X X X X Extracts X X X X ..... try before listing of IDRs in stock exchange(s). (h) the issuing company shall ensure that the underlying shares of IDRs shall rank pari-passu with the existing shares of the same class. (iii) In regulation 101, for sub-regulation (1) the following shall be substituted, namely:- (1) The issuing company shall appoint one or more merchant bankers, at least one of whom shall be a lead merchant banker and shall also appoint other intermediaries, in consultation with the lead merchant banker and shall enter into an agreement with the merchant banker on the lines of format of agreement as specified in Schedule II. (iv) After regulation 101 and before regulation 102, the following regulation shall be inserted, namely:- Agreements with other intermediaries and others. 101A. (1) The issuing company shall appoint a registrar and transfer agent which has connectivity with all the depositories. (2)The issuing company shall enter into an agreement with overseas custodian bank and domestic depository. (3) The lead merchant banker, after independently assessing the capability of other intermediaries and others to carry out their obligations, shall advise the issuing company on their appointment. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i) where the securities are listed only on recognised stock exchange(s) having nationwide trading terminals, from all such stock exchange(s); (ii) where the securities are not listed on any recognised stock exchange having nationwide trading terminals, from all the stock exchange(s) on which the securities of the issuer are proposed to be listed; (iii) where the specified are listed on recognised stock exchange(s) having nationwide trading terminals as well as on the recognised stock exchange(s) not having nationwide trading terminals, from all recognised stock exchange(s) having nationwide trading terminals. Application for Listing. 108. (1) The issuer or the issuing company, as the case may be, shall complete the pre-listing formalities within the time lines specified by the Board from time to time. (2) The issuer or the issuing company, as the case may be, shall, make an application for listing, within twenty days from the date of allotment, to one or more recognized stock exchange(s) along with the documents specified by stock exchange(s) from time to time. (3) In case of delay in making application for listing beyond twenty days from the date of allotment, the issuer or the is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... different criteria, if any. (xiii) In Schedule XIX, in part A, in item 14, before sub-item (a), the following general instructions shall be inserted, namely:- General Instructions: (1) The format of disclosure of financial results may be as per the disclosure requirements of the issuing company in the home country where the Issuing Company is listed. (2) The issuing company shall intimate to the investors in the offer document the type of disclosures that it will follow i.e. whether as per Indian GAAP, IFRS or US GAAP and any change in such format shall be informed to the IDR Holders by way of notices to the stock exchange. (xiv) In Schedule XIX, in Part B, in item 2, after sub-item (d), the following sub-item shall be inserted, namely:- (e) Different classes of shares based on different criteria, if any. (xv) In Schedule XX in the reference title the number 110 shall be substituted, with the number 114 . 2. Amendment to Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008. (i) After regulation 12 and before regulation 13, the following regulation shall be inserted, namely:- Allotment of securities and payment of interest. 12A. (1) The Iss ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r innovative perpetual debt instruments on a recognised stock exchange, shall execute an agreement with such stock exchange. (2) Every issuer which has previously entered into agreements with a recognised stock exchange to list non-convertible redeemable preference shares, or perpetual non-cumulative preference shares or innovative perpetual debt instruments shall execute a fresh listing agreement with such stock exchange within six months of the date of notification of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. 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. (ii) In regulation 20, sub-regulations (2) and (3) shall be omitted. (iii) In Schedule I, in para. III, in sub-par ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and the special purpose distinct entity shall promptly disseminate such information, as prescribed, in such manner as the recognised stock exchange(s) may determine from time to time . (iv) For regulation 37, the following shall be substituted, namely:- Continuous listing conditions. 37. The special purpose distinct entity or trustee thereof shall submit such information, including financial information relating to the schemes, to the stock exchanges and investors and comply with such other continuing obligations as may be stipulated in the listing agreement. 5. Amendment to Securities and Exchange Board of India (Mutual Funds) Regulations, 1996. After regulation 31, the following regulation shall be inserted, namely:- In-principle approval from recognised stock exchange(s). 31A. The listed entity, which intends to list units of its scheme on the recognised stock exchange(s), shall obtain in-principle approval from recognised stock exchange(s) in the manner as specified by the recognised stock exchange(s) from time to time. Listing Agreement. 31B. (1) Every mutual fund desirous of listing units of its schemes on a recognised stock exchange shall execute an agreement with such stoc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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