PERIODICAL REPORT- GRANT OF PRIOR APPROVAL TO REGISTRARS TO AN ISSUE AND SHARE TRANSFER AGENTS
CIRCULAR NO. MIRSD/5/2011, DATED 17-6-2011
1. SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 {hereinafter referred to as "the said Regulations"}, have been amended vide Notification No. LAD-NRO/GN/2011 -12/03/12650, dated April 19, 2011 {hereinafter referred to as "the said amendment"}, a copy of which is available on SEBI website www.sebi.gov.in
2. With the said amendment, the requirement of taking prior approval by the Registrars to an Issue and Share Transfer Agents (RTI/STA) from SEBI for change in status or constitution has been dispensed with. However, the RTI/STAs are required to take prior approval from SEBI for change in control.
3. Pursuant to the aforesaid notification, all RTI/STAs shall report the following change(s) to SEBI in the quarterly reports submitted in accordance with the SEBI Circular No. MIRSD/DPS-2/RTA/Cir-17/2008, dated May 6, 2008, commencing from the quarter ended June 30, 2011.
a. Amalgamation, demerger, consolidation or any other kind of corporate restructuring falling within the scope of section 391 of the Companies Act, 1956 (1 of 1956) or the corresponding provision of any other law for the time being in force
b. Change in Director, including managing director/ whole-time director
c. In case of a partnership firm any change in partners not amounting to dissolution of the firm
d. Change in shareholding not resulting in change in control
If there is no change during the relevant quarter, it shall be indicated in the report.
4. This circular is issued in exercise of powers conferred under section 11(1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
5. This circular is available on SEBI website (www.sebi.gov.in) under the categories "Legal Framework" and "Circulars".
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