Home Acts & Rules SEBI Regulation Securities and Exchange Board of India (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018 Chapters List Chapter XI BONUS ISSUE This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Regulation 293 - Conditions for a bonus issue - Securities and Exchange Board of India (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018Extract CHAPTER XI - BONUS ISSUE Conditions for a bonus issue 293. Subject to the provisions of the Companies Act, 2013 or any other applicable law, a listed issuer shall be eligible to 1 [ announce its bonus issue and ] issue bonus shares to its members if: a) it is authorised by its articles of association for issue of bonus shares, capitalisation of reserves, etc.: Provided that if there is no such provision in the articles of association, the issuer shall pass a resolution at its general body meeting making provisions in the articles of associations for capitalisation of reserve; 2 [ (aa) it has received approval from the stock exchanges for listing and trading of all the securities, excluding options granted to employees pursuant to an employee stock option scheme and convertibles securities, issued by the issuer prior to the issuance of bonus shares. ] b) it has not defaulted in payment of interest or principal in respect of fixed deposits or debt securities issued by it; c) it has not defaulted in respect of the payment of statutory dues of the employees such as contribution to provident fund, gratuity and bonus; d) any outstanding partly paid shares on the date of the allotment of the bonus shares, are made fully paid-up; e) any of its promoters or directors is not a fugitive economic offender. ***************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2023/130 dated 23-05-2023 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2023/130 dated 23-05-2023
|