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
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Regulation 295 - Completion of a bonus issue - Securities and Exchange Board of India (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018Extract Completion of a bonus issue 295. (1) An issuer, announcing a bonus issue after approval by its board of directors and not requiring shareholders approval for capitalisation of profits or reserves for making the bonus issue, shall implement the bonus issue within fifteen days from the date of approval of the issue by its board of directors: Provided that where the issuer is required to seek shareholders approval for capitalisation of profits or reserves for making the bonus issue, the bonus issue shall be implemented within two months from the date of the meeting of its board of directors wherein the decision to announce the bonus issue was taken subject to shareholders approval. Explanation: For the purpose of a bonus issue to be considered as implemented the date of commencement of trading shall be considered. (2) A bonus issue, once announced, shall not be withdrawn.
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