List out the points of 'Common Obligations for a Listed Entity' prescribed under the SEBI (LODR) Regulations, 2015.
CS Professional · Corporate Funding & Listings in Stock Exchanges · PYQS · December 2021
List out the points of 'Common Obligations for a Listed Entity' prescribed under the SEBI (LODR) Regulations, 2015.
Answer & Explanation:
Chapter III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 deals with the Common Obligations for a Listed Entity. The Listing Regulations has specified the generic obligations or common obligations of listed entity with respect to filing of information, responsibilities of compliance officer, fees etc. and these requirements are applicable to all types of listed securities. The Common Obligations mainly includes: - General Obligations of Compliance - Regulation 5 The listed entity shall ensure that key managerial personnel, directors, promoters or any other person dealing with the listed entity, complies with responsibilities or obligations, if any, assigned to them under these regulations. Appointment of Compliance Officer and his/her Obligations - Regulation 6 The listed entity shall appoint a qualified Company Secretary as the Compliance Officer. The Compliance Officer is made responsible for certain things. Appointment of Share Transfer Agent (STA) - Regulation 7 The listed entity shall appoint a share transfer agent or mange the share transfer facility in house. Co-operation with intermediaries registered with SEBI - Regulation 8 It shall co-operate with and submit correct and adequate information to the intermediaries registered with SEBI such as credit rating agencies, registrar to an issue and share transfer agents, debenture trustees etc. within timelines and procedures specified under the Act, respective regulations and circulars issued under the Act. Preservation of Documents - Regulation 9 The listed entity shall have a Policy. The policy shall be approved by its Board of Directors. The documents may be kept in electronic mode. Preservation: at least 2 categories of documents as follows: Documents permanent in nature Documents with preservation > or equal to 8 years after completion of transaction. E-Filing of Information - Regulation 10 The listed entity shall file all reports, statements, documents and other information with the recognized stock exchange(s) on the electronic platform as specified by SEBI or the recognized stock exchange(s). And put necessary infrastructure in place to comply with this requirement. Scheme of Arrangement - Regulation 11 The listed entity shall ensure that any scheme of arrangement/ amalgamation/ merger/reconstruction/reduction of capital etc. to be presented to any Court or Tribunal does not in any way violate, override or limit the provisions of securities laws or requirements of the stock exchange(s). Payment of dividend of interest or redemption or repayment - Regulation 12 The listed entity shall use Payment facility in electronic mode for payment of dividend, interest, redemption or repayment of amounts, which is approved by the Reserve Bank of India. If electronic mode is not possible to be used, then Issue "Payable at Par" warrants or cheques. Speed post to be used for "Payable at Par" cheques for more than ₹1,500/-. Grievance Redressal Mechanism - Regulation 13 The listed entity shall ensure that adequate steps are taken for expeditious redressal of investors complaints. It shall ensure that it is registered with SEBI Complaints Redress System (SCORES) platform or any other platform of SEBI for handing investors complaints electronically as specified by SEBI. It shall submit the statement on Investor complaints. Submit statement to stock Exchange within 21 days from the end of quarter. The Statement should contain: number of complaints pending at the beginning of the quarter; received during the quarter; resolved/disposed of during the quarter; and remaining unsolved at the end of the quarter. To be placed before the Board of Directors on quarterly basis. Fees and Other Charges to be paid to the recognised stock exchange(s) - Regulation 14. Payment of all such fees or charges, as applicable including Listing Fee to Stock Exchanges.
Topics: Listing Regulations
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