Friday December 14 2012

News Source: Global Disclosures

Focus: Substantial Acquisitions

Type: General

Country: India




Further to the publication on 20th June 2012 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, the SEBI Board has issued instructions for the effective implementation of the SECC Regulations on approval for India major shareholdings.

The instructions detail, among others:

  • Application stages for seeking recognition as a Stock Exchange/ Clearing
    Corporation;
  • COntents of the bye-laws of a Clearing Corporation;
  • Procedure for application for grant of approval for shareholding beyond 2% or 5%;
  • Governance requirements;
  • Norms for compensation policy; and
  • Procedure for submitting amendments to Articles/Rules/Byelaws/Regulations, etc, for SEBI`s approval.

Click on the above link for more details.