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Framework on Social Stock Exchange (“SSE”) - SEBI - SEBI/HO/CFD/PoD-1/P/CIR/2022/120

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..... (1) of ICDR Regulations, shall fulfil the following criteria: Broad Parameter Indicator Details Legal Requirements Entity is registered as an NPO Registration certificate valid at least for next 12 months at the time of seeking registration with SSE Entities must be registered in India as one of the below: a. a charitable trust registered under the public trust statue of the relevant state; b. a charitable trust registered under the Societies Registration Act, 1860 c. a charitable trust registered under the Indian Trusts Act, 1882 d. a company incorporated under section 8 of the Companies Act, 2013 Ownership and control Governing document (MoA & AoA/ Trust Deed/ Bye-laws/ Constitution) Disclose if NPO is owned and/or controlled by government or private Exemption under Income Tax Act Registration Certificate under section 12A/12AA/12AB under Income Tax Act, 1961 Registration Certificate under section 12A/12AA/12AB to be valid for at least the next 12 months. Does not have a notice or ongoing scrutiny by Income Tax. Registration with Income Tax as an NPO IT PAN Valid IT PAN Age of the NPO Registration certificate Minimum 3 years Deduction under Income Tax Act, 1960 Valid 80G regi .....

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Framework on Social Stock Exchange (“SSE”) - SEBI

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..... here are no material qualifications or material irregularities reported by its auditor. Compliances w.r.t. Income Tax, notices received etc. i. Credibility Documents such as Registration, Trust Deed/ MoA and AoA, Address Proof, IT PAN, 12A/12AA/12AB Certificate, FCRA certificate and returns, remuneration to governing members. j. Social Impact Details of past social impact in terms of parameters specified in Para D(5) of this circular. k. Risks Disclose (i) risks that the NPO sees to its work and how it proposes to mitigate these (ii) unintended consequences that the NPO sees from its work and how it proposes to mitigate these. C. Annual disclosure by NPOs on SSE which have either raised funds through SSE or are registered with SSE in terms of Regulation 91C of the LODR Regulations The following disclosures would be made by the NPOs on an Annual Basis (i.e.) within 60 days from end of Financial Year (1) Disclosures on General aspects: i. Name of the organization (legal and popular name) ii. Location of headquarters and location of operations iii. Vision / Mission / Purpose iv. Organizational goals, activities, products and services v. Outreach of organization (Type and number of dir .....

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Framework on Social Stock Exchange (“SSE”) - SEBI

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..... s significant activities, intervention, programs or projects during the year and the methodology for determination of significance must be explained. Additionally, if there is an activity, intervention, program or projects covered under a listed security, it will qualify as a significant activity, intervention, program or project. (4) For a Social Impact Fund where the underlying recipients of funds are SEs which have registered or raised funds using SSE, must disclose an overall AIR for the fund covering all investee/grantee organizations where the fund is deployed. (5) The AIR should at a minimum, cover the aspects described below. a. Strategic Intent and Planning i. What is the social or environmental challenge the organization and/or the instrument listed is addressing? Has this changed in the last year? ii. How is the organization attending to the challenge or planning to attend to the challenge? Has this changed in the last year? iii. Who is being impacted (target segment)? Has this changed in the last year? iv. What will be the outcomes of the activities, intervention, programs or project? Disclosure should include positive and potential unintended negative outcomes. b. Appr .....

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Framework on Social Stock Exchange (“SSE”) - SEBI

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..... ting organization shall report on the registered name and also any popular names the organization is known by among stakeholders. 2. Location of headquarters and location of operations: Headquarter refers to the address that the organization has used in registering with respective regulatory body and also the organizations administrative center, from which it is controlled or directed. In case the locations are different, it needs to be specified. Location of operations shall cover the name of the locations where the organization has significant operation. Significant shall be defined to the scope of fund raising document. 3. Vision/Mission/ Purpose: It is important to understand the intent behind the disclosure and respond accordingly. Purpose in this context is why the organization exists and explaining why the cause taken up by the organization matters. The Mission will explain how the organization is working in the context of the purpose and the Vision in the context of this disclosure will be about where the organization is headed and what the organization will achieve. It is possible that all organizations may not have all the 3 (Vision, mission and purpose) as a stated docum .....

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Framework on Social Stock Exchange (“SSE”) - SEBI

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..... es of the members of the body: The organization shall explain the role of the governance body, the competence available and the identification of the members including name. Also name and designation of the senior decision maker may be provided. 4. Executives with key responsibilities: The disclosure will highlight the key executive positions and their role in the organization. 5. Number of meetings by governing body and other committees formed by them along with attendance and the process of performance review: The process to acquire the necessary information and data by the governance body to review the performance of the organization shall be explained. The disclosure shall also bring out the number of such meetings held by the governance body, during the course of the reporting period. 6. Organisation level potential risks and mitigation plan: The organization to describe potential risks and mitigation plan addressing the same for organization and proposed solution/activity/intervention/programs or project. 7. Reporting of related party transactions The organization shall disclose all related party transactions entered by it and reasons for the same. 8. Mechanisms for advice an .....

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Framework on Social Stock Exchange (“SSE”) - SEBI

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..... ) on AIR Strategic Intent and Planning 1. What is the social or environmental challenge the organization or the instrument listed is addressing? The problem statement to be explained in detail. The challenge, its extent, causes and consequences and the part of the problem statement the organization and the instrument are trying to address shall be explained. 2. How the organization is planning to attend to the challenge or attending to the challenge? The approach the organization or the specific instrument will be using or already using need to be explained. The organization shall also explain what the change is resulting for the targeted beneficiary and what proportion of the target group are experiencing the change. 3. Who is being impacted (target segment)? The target beneficiaries / stakeholders to cover various kinds of target groups. Include the organization’s internal definition of “target segments” it seeks to serve, usually along one or more of the three dimensions namely, Income (driven by socio-demographic and/or behavioural characteristics) Geography (ecosystem or geographic characteristics driven by population density (urban/rural), administrative bou .....

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Framework on Social Stock Exchange (“SSE”) - SEBI

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..... project/program. Also, bring out possible deviations that might have occurred in the reporting period. 4. Please brief out alignment of solution to Sustainable Development Goals (SDGs)/national priorities/state priorities. Explain the alignment of activity, intervention, program or project to respective SDGs and national/state priorities and schemes. 5. How have you taken into consideration stakeholder feedback in this reporting period? The organization to mention how they have mapped and prioritized the key stakeholders for the engagement. The reporting shall include the list of stakeholders engaged, their feedback and how the organization used the feedback. 6. In the last year, what have you seen as the biggest risks to the achievement of the desired impact? How are these being mitigated? Mention the key potential risks pertaining to the organization or the specific instrument that could hamper/hinder the achievements of desired intended outcomes in last year and the steps or strategies taken by organization to mitigate the same. Impact Scorecard 1. What are the metrices monitored and what has been the trend? The trend in performance shall be explained through the trend of the d .....

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Framework on Social Stock Exchange (“SSE”) - SEBI

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  1. SEBI/LAD-NRO/GN/2022/90 - Dated: 25-7-2022 - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2022
  2. SEBI/LAD-NRO/GN/2022/89 - Dated: 25-7-2022 - Securities and Exchange Board of India (Alternative Investment Funds) (Third Amendment) Regulations, 2022
  3. SEBI/LAD-NRO/GN/2022/88 - Dated: 25-7-2022 - Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2022