SEBI introduces Chapter on Obligations of Social Enterprises vide SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2022

SEBI

   

On 25-07-2022, the Securities and Exchange Board of India has issued SEBI (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2022 to amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The amendment inserts Chapter IX-A dealing with Obligations of Social Enterprises.

Key Points:

  1. Applicability:

    • For Profit Social Enterprise whose designated securities are listed on the applicable segment of the Stock Exchange;

    • a Not-for-Profit Organization that is registered on the Social Stock Exchange (‘SSE').

  2. A Not for Profit Social Enterprise whose designated securities are listed on the Stock Exchange has to comply with the disclosure requirements contained in these regulations with respect to issuers whose specified securities are listed on the Main Board or the SME Exchange or the Innovators Growth Platform.

  3. Other features covered under this chapter are:

    • Disclosures by a For Profit Social Enterprise.

    • Disclosures by a Not-for-Profit Organization.

    • Intimations and disclosures by Social Enterprise of events or information to Social Stock Exchange or Stock Exchange.

    • Disclosures by a Social Enterprise in respect of social impact.

    • Statement of utilisation of funds.

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