Write short notes on: Regulation 30(3) of SEBI (LODR), 2015 regarding disclosure of events upon application of materiality guidelines.

Regulation 30(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 specifies that the listed entity shall make disclosure of events specified in Para B of Part A of Schedule III, based on application of the guidelines for materiality, as specified in regulation 30(4) of SEBI (LODR) Regulations, 2015. The listed entity shall consider the following criteria for determination of materiality of events/ information: the omission of an event or information, which is likely to result in discontinuity or alteration of event or information already available publicly or the omission of an event or information is likely to result in significant market reaction if the said omission came to light at a later date In case where the criteria specified in sub-clauses (a) and (b) are not applicable, an event/information may be treated as being material if in the opinion of the board of directors of listed entity, the event / information is considered material. The listed entity shall frame a policy for determination of materiality, based on criteria specified in the regulation 30(4) of SEBI (LODR) Regulations, 2015, duly approved by its board of directors, which shall be disclosed on its website.