TMI BlogSecurities Contracts (Regulation) Amendment Rules, 2000.X X X X Extracts X X X X X X X X Extracts X X X X ..... r a period exceeding three months, the company or body corporate concerned may prefer an appeal to the Securities Appellate Tribunal constituted under section 15K of the Securities and Exchange Board of India Act, 1992 (15 of 1992), and the procedure laid down under the Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Rules, 2000 shall apply to such appeal. The Securities Appellate Tribunal may, after giving the stock exchange an opportunity of being heard, vary or set aside the decision of the stock exchange and its orders shall be carried out by the stock exchange. (ii) for sub-rule (6), the following shall be substituted, namely:- (6) A recognised stock exchange may, either at its own discretion or shall in accordance with the orders of the Securities Appellate Tribunal under sub-rule (5) restore or re-admit to dealings any securities suspended or withdrawn from the list. (iii) after rule 19, the following rules shall be inserted, namely:- 20. Requirements with respect to the listing of units or any other instrument of a Collective Investment Scheme on a recognised stock exchange: (1) A collective investment management company (CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ject-matter and general nature of the documents pertaining to such scheme. (j) A brief history of the Company since its incorporation giving details of its activities including any re-organisation, reconstruction or amalgamation, changes in its capital structure (authorised, issued and subscribed) and debenture borrowings, if any and the performance of other collective investment schemes of the company. (k) Particulars of units of the scheme and/or shares, debentures of the company issued (i) for consideration other than cash, whether in whole or part, (ii) at a premium or discount, or (iii) in pursuance of an option. (l) A statement containing particulars of any commission, brokerage, discount or other special terms granted to any person pertaining to such scheme. (m) Certified copies of (i) certificate of registration granted by Securities and Exchange Board of India; (ii) acknowledgement card or the receipt of filing offer document with the Securities and Exchange Board of India; (iii) agreements, if any, with any public financial institution as specified in section 4A of the Companies Act, 1956 (1 of 1956). (n) A list of highest ten holders of units of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urities and Exchange Board of India may issue in this behalf from time to time. Explanation.- Where any part of the units or any other instruments sought to be listed have been or are agreed to be taken up by the Central Government, a State Government, development or investment agency of a State Government, Industrial Development Bank of India, Industrial Finance Corporation of India, Industrial Credit and Investment Corporation of India Limited, Life Insurance Corporation of India, General Insurance Corporation of India and its subsidiaries, namely, the National Insurance Company Limited, the New India Assurance Company Limited, the Oriental Insurance Company Limited and the United Insurance Company Limited, or Unit Trust of India, the total subscription to the units or any other instrument, whether by one or more of such bodies, shall not form part of the twenty-five per cent of the units or any other instruments to be offered to the public. (3) A company applying for listing of a scheme shall, as a condition precedent, undertake inter-alia- (a) (i) that letters of allotment of units or any other instrument will be issued simultaneously and that, in the event of its be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g on the discharge of the registered holders; and (ii) to verify when the company is unable to issue units or any other instruments or split receipt or consolidation receipts or renewal receipts immediately on lodgment whether the discharge of the registered holders, on the documents lodged for sub-division or consolidation or renewal and their signatures on the relative transfers are in order; (e) on production of the necessary documents by unit holders or by members of the exchange, to make on transfers an endorsement to the effect that the power of attorney or probate or letters of administration or death certificate or similar other document has been duly exhibited to and registered by the company; (f) to issue certificates in respect of units or any other instrument lodged for transfer within a period of one month of the date of lodgment of transfer and to issue balance units or any other instrument within the same period where the transfer is accompanied by a larger unit or any other instrument certificate; (g) to advise the stock exchange of the date of the board meeting at which the declaration or recommendation of a return or the issue or right or bonus units o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f a right or bonus issue to so close the transfer books or fix a record date only after the sanctions of the competent authority, subject to which the issue is proposed to be made, have been duly obtained, unless the exchange agrees otherwise; (p) to forward to the stock exchange an annual return immediately after the preparation of annual accounts of at least ten principal holders of each class of units/ any other instruments of the company along with particulars as to the number of units/ any other instrument held by, and address of, each such holder; (q) to grant to unit/ any other instrument holders of the scheme the right of renunciation in all cases of issue of rights, privileges and benefits and to allow them reasonable time, not being less than four weeks, within which to record, exercise, or renounce such rights, privileges and benefits, and to issue, where necessary, coupons or fractional certificates or provide for the payment of the equivalent of the value of the fractional right in cash unless the company in general meeting or the stock exchange agrees otherwise; (r) to promptly notify the stock exchange- (i) of any action which will result in the redemptio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rate concerned a reasonable opportunity by a notice in writing, stating the reasons, to show cause against the proposed action: Provided further that where a recognised stock exchange has withdrawn admission to dealings in any unit/ other instrument of a collective investment scheme, or where suspension of admission to dealings has continued for a period exceeding three months, the company or body corporate concerned may prefer an appeal to the Securities Appellate Tribunal constituted under section 15K of the Securities and Exchange Board of India Act, 1992 (15 of 1992), and the procedure laid down under the Securities Contracts (Regulation) (Appeal to Securities Appellate Tribunal) Rules, 2000 shall apply to such appeal. The Securities Appellate Tribunal may, after giving the stock exchange an opportunity of being heard, vary or set aside the decision of the stock exchange and thereupon the orders of the Securities Appellate Tribunal shall be carried out by the stock exchange. (6) A recognised stock exchange may, either at its own discretion or shall in accordance with the orders of the Securities Appellate Tribunal under sub-rule (5) restore or re-admit to dealings any uni ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
