In the wake of current scenario of lockdown in country, SEBI has issued directions for Registrars to an Issue and Share Transfer Agents / Issuer Companies, holding SEBI registration under Category 1 or Category 2 of RTI/STA and felt to extend timelines for processing various investor requests pertaining to physical securities and Compliance and disclosures to be made under SEBI Regulations and various SEBI circulars.
SEBI Extends Due Date in Depositories Regulations & Other Regulations Compliance Norms
Major relaxation is given under:
• Certificate Received from Registrar under Regulation 74(5) of the SEBI (D & P) Regulations, 2018
• Reconciliation of Shares and Capital Audit: under Regulation 76 of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
SEBI issued relaxations vide Circular No. SEBI/HO/MIRSD/RTAMB/CIR/P/2020/59 dated April 13, 2020 which states:o:p>
1. In wake of the current nationwide lock down of 21 days as directed by Government of India due to issue of Covid-19, a need has been felt to extend the timelines for processing of various investor requests pertaining to physical securities and Compliance and disclosures to be made under SEBI Regulations and various SEBI circulars. The directions are being issued for Registrars to an Issue and Share Transfer Agents / Issuer Companies, holding SEBI registration under Category 1 or Category 2 of RTI/STA.
2. Considering the nationwide lock down and marginal / skeleton staff strength of RTAs / Issuer companies, "relaxation is hereby being given to intermediaries / market participants for equivalent period of lock down declared by Government of India i.e. 21 days, over and above the prescribed time limits, respectively, for activities / investor requests / compliance as per the annexure.
3. In the event of further extension in the lock down period as directed by Government of India / State Governments, additional relaxation in prescribed timelines for equal number of extended days in lock down is also being given to intermediaries/market participants.
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