TMI BlogRequirements with respect to the listing of units or any other instrument of a Collective Investment Scheme on a recognised stock exchangeX X X X Extracts X X X X X X X X Extracts X X X X ..... period during which the company has been in existence. (d) Copies of balance sheets and audited accounts for the last five years, or in the case of new company, for such completed financial year for which accounts have been made up. (e) A statement showing (i) returns and cash bonuses, if any, paid during the last ten years (or such shorter period as the company has been in existence whether as a private or public company); (ii) returns or interest in arrears, if any. (f) Certified copies of agreements or other documents relating to arrangements pertaining to each scheme of the company with or between: (i) vendors and/or promoters, (ii) underwriters and sub-underwriters, (iii) brokers and sub-brokers. (g) Certified copies of agreements pertaining to each scheme of a company with (i) selling agents and other service providers, (ii) managing directors and technical directors, (iii) general manager, sales manager, manager or secretary. (h) Certified copies of every letter, report, balance sheet, valuation contract, court order or other document, part o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he stock exchange that: (a) Its articles of association provide for the following among others (i) that the company shall use a common form of transfer of units of a particular scheme; (ii) that the fully paid units issued under the scheme will be free from all lien, while in the case of partly paid units the company's lien, if any, will be restricted to moneys called or payable at a fixed time in respect of such units; (iii) that any amount paid-up in advance of calls on any units may carry interest but shall not entitle the holder of the unit to participate in respect thereof, in a return subsequently declared; (iv) there will be no forfeiture of unclaimed returns before the claim becomes barred by law; (v) that option or right to call of units shall not be given to any person except with the sanction of the company in general meeting: Provided that a recognised stock exchange may provisionally admit to dealings the units of a scheme which undertakes to amend its articles of association at its next general meeting so as to fulfil the foregoing requirements and agrees to act in the meantime strictly in accord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the distinctive numbers of the units or any other instrument to which they relate; (iv) that letters of allotment and renounceable letters of right will contain a proviso for splitting and that, when so required by the exchange, the form of renunciation will be printed on the back of or attached to the letters of allotment and letters of right; (v) that letters of allotment and letters of right will state how the next payment of interest or return on the units or any other instrument will be calculated; (b) to issue, when so required, receipts for all units and any other instrument deposited with it whether for registration, sub-division, exchange or for other purposes; and not to charge any fees for registration of transfers, for sub-division and consolidation of units and any other instrument and for sub-division of letters of allotment, renounceable letters of right, and split, consolidation, renewal and transfer receipts into denominations of the market unit of trading; (c) to issue, when so required, consolidation and renewal units or any other instrument in denominations of the market unit of trading, to split units or any other instrume ..... 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(i) to notify the stock exchange of any change (i) in the company's directorate by death, resignation, removal or otherwise, (ii) of managing director, (iii) of auditors appointed to audit the books and accounts of the company; (j) to forward to the stock exchange copies of statutory and annual reports and audited accounts of such scheme as soon as issued, including directors' report; (k) to forward to the stock exchange as soon as they are issued copies of all other notices and circulars sent to the unit/other instrument holders regarding any important development or resolutions passed by the company affecting the performance of the scheme and to file with the stock exchange certified copies of resolutions of the company as soon as such resolutions become effective; (l) to notify the stock exchange prior to intimating the unit/any other instrument holders, of any new issue of units/other instruments whether by way of right, privilege, bonus or otherwise and the manner in which it is proposed to offer or allot the same; (m) to notify the stock exchange in the event of re-issue of any forfeited units/other instrumen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iii) of the amount of units/other instruments outstanding after any drawing has been made; (s) to intimate the stock exchange any other information necessary to enable the unit/any other instrument holders to appraise the position of the scheme and to avoid the establishment of a false market in the units/any other instruments of the company; (t) that in the event of the application for listing being granted, such listing shall be subject to the rules and bye-laws of the exchange in force from time to time and that the company will comply within a reasonable time, with such further listing requirements as may be promulgated by the exchange as a general condition for new listings. (4) A fresh application for listing will be necessary in respect of all new schemes desired to be dealt in: Provided that, where such new units/other instruments are identical in all respects with those already listed, admission to dealing will be granted on the company intimating to the stock exchange particulars of such new schemes. Explanation . Units/any other instruments are identical in all respects only if (a) they are issued under the same scheme; (b) th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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