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TMI BlogSecurities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2021.X X X X Extracts X X X X X X X X Extracts X X X X ..... the following regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, namely:- 1. These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2021. 2. 1[They shall come into force on January 1, 2022]. 3. In the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,- I. In regulation 16, in sub-regulation (1), in clause (b),- a. in sub-clause (iv), after the words "during the" and before the word "immediately", the word "two" shall be substituted by the word "three". b. in sub-clause (v) the words and s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er pecuniary transaction or relationship with the listed entity, its holding, subsidiary or associate company amounting to two percent or more of its gross turnover or total income: Provided that the pecuniary relationship or transaction with the listed entity, its holding, subsidiary or associate company or their promoters, or directors in relation to points (A) to (D) above shall not exceed two percent of its gross turnover or total income or fifty lakh rupees or such higher amount as may be specified from time to time, whichever is lower." c. In sub-clause (vi),- i. the symbol and word "/herself" shall be inserted after the word "himself" and before the symbol and word ", nor". ii. in point (A), after the words "associate company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a. after sub-regulation (2), a new sub-regulation (2A) shall be inserted namely:- "(2A). The appointment, re-appointment or removal of an independent director of a listed entity, shall be subject to the approval of shareholders by way of a special resolution." b. in sub-regulation (6),- i. the words "the immediate next meeting of the board of directors or" appearing after the words "later than the" and before the words "three months" shall be omitted. ii. the symbol and words ", whichever is later" appearing after the words "such vacancy" and before the proviso shall be omitted. c. in sub-regulation (10), the word, numbers and symbol "October 1, 2018" shall be substituted with the word, numbers and symbol "January 1, 2022" and th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iption. For the purpose of identifying suitable candidates, the Committee may: a. use the services of an external agencies, if required; b. consider candidates from a wide range of backgrounds, having due regard to diversity; and c. consider the time commitments of the candidates." IX. In Schedule III, in Part A, in Para A, in clause (7B),- a. in sub-clause (i),- i. the words "The letter of resignation along with" shall be inserted before the words "detailed reasons". ii. the words "of independent directors" appearing after the word "resignation" and before the words "as given" shall be omitted. iii. the words "shall be disclosed by the listed entities to the stock exchanges" appearing after the word "director" shall be omit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vide notification no. SEBI/ LADNRO/ GN/2016-17/008. d) January 4, 2017 by Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2016 vide notification no. SEBI/ LAD-NRO/GN/2016-17/025. e) February 15, 2017 by Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2017 vide notification no. SEBI/LAD/NRO/GN/2016-17/029. f) March 6, 2017 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017 vide Notification No. LAD-NRO/GN/2016- 17/037 read with March 29, 2017 by Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2019, vide notification no. SEBI/LAD-NRO/GN/2019/12. o) June 27, 2019 by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2019, vide notification no. SEBI/LAD-NRO/GN/2019/22. p) July 29, 2019 by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2019, vide notification no. SEBI/LAD-NRO/GN/2019/28. q) December 26, 2019 by the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2019, vide notification no. SEBI/ LAD-NRO/GN/2019/45. r) J ..... X X X X Extracts X X X X X X X X Extracts X X X X
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