Mar 31, 2023

Amendment to Securities Contracts (Regulation) Rules

The MoF has amended Rule 19A(6) of the Securities Contracts (Regulation) Rules, 1957 (‘Securities Contract (Regulation) Rules’) by way of Notification dated January 02, 2023, granting power to the Central Government, in public interest, to exempt any listed entity in which the Central Government or the State Government or public sector company, individually or in combination, directly or indirectly, holds majority of the shares or voting rights or control of such listed entity, from the provisions of continuous listing requirements under Rule 19A(1) to (5) of the Securities Contract (Regulation) Rules. Earlier, the Central Government could exempt only a listed public sector company from such requirements. The Notification further specifies that such exemption is valid for the period specified therein irrespective of any change in control of such listed entity, post issuance of the exemption.




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