Regulation 58 - Relaxation of strict enforcement of Rule 19 of the Securities Contracts (Regulation) Rules, 1957 - Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021

Relaxation of strict enforcement of Rule 19 of the Securities Contracts (Regulation) Rules, 1957 58. In exercise of the powers conferred by sub-rule (7) of Rule 19 of the Securities Contracts (Regulation) Rules, 1957, the Board relaxes the strict enforcement of: (a) sub-rules (1) and (3) of Rule 19 the said rules in relation to listing of an issue of non-convertible securities; (b) clause (b) of sub-rule (2) of rule 19 of the said rules in relation to listing of debt securities: i. issued by way of a private placement by any issuer; and, ii. issued to the public by an infrastructure company, a Government company, a statutory authority or corporation or any special purpose vehicle set up by any of them, which is engaged in the infrastructure sector. Explanation: For the purposes of this regulation the term infrastructure sector shall have the same meaning assigned to it under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.