Govt. amends SCRA Rules, tweaks norms w.r.t continuous listing requirement for Govt. Cos.
- Blog|News|Company Law|
- < 1 minute
- By Taxmann
- |
- Last Updated on 4 January, 2023
Latest from Taxmann
Notification No. G.S.R. 03(E). Dated 02.01.2023
The Govt. has notified the Securities Contracts (Regulation) Amendment Rules, 2022. An amendment has been made to rule 19A of the Securities Contracts (Regulation) Act, 1956. The Rule provides for continuous listing requirements. Pursuant to Rule 19A, every listed company shall maintain public shareholding of at least such percentage of shares as may be prescribed.
Now, the Central Government may, in the public interest, exempt any listed entity from complying with any provision of continuous listing requirements in case the Central Government/State Government/Public Sector Company either individually or in any combination with the other holds directly or indirectly, the majority of the shares or voting rights or control of the such listed entity.
Further, this amendment shall be applicable from 02.01.2023.
Click Here To Read The Full Notification
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
