Explain what is Informal Guidance under SEBI (Informal Guidance) Scheme, 2013 and who can seek guidance from SEBI ?

CS Executive · Securities Laws and Capital Markets · PYQS · June 2019
Explain what is Informal Guidance under SEBI (Informal Guidance) Scheme, 2013 and who can seek guidance from SEBI ?

Answer & Explanation:

In the interests of better regulation of and orderly development of the securities market, SEBI has issued SEBI (Informal Guidance) Scheme 2003. The following persons may make a request for informal Guidance under the scheme: any intermediary registered with the SEBI. any listed company. any company which intends to get any of its securities listed and which has filed either a listing application with any stock exchange or a draft offer document with the SEBI or the Central Listing authority. any mutual fund trustee company or asset management company. any acquirer or prospective acquirer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1997. (Now SEBI Takeover Regulations, 2011) The Guidance Scheme, further deals with various aspects such as the nature of request, fees to be accompanied along with request letter, disposal of requests, SEBI's discretion not to respond certain types of requests and confidentiality of requests, etc.

Topics: SEBI (Informal Guidance) Scheme, 2013

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