On 2-1-2023, the Ministry of Finance has notified the Securities Contracts (Regulation) Amendment Rules, 2022 to amend the Securities Contracts (Regulation) Rules, 1957. The provisions of this circular came into effect on 2-1-2023.

Key Points:

  1. Earlier, “Government Company” meant a company in which not less than 51% of the share capital is held by Central Government (‘CG’) / State Government (‘SG’)/ partly by CG and partly by one or more SG.

    Now, after the amendment, “Government Company” means a company as defined in Section 2(45) of the Companies Act, 2013. According to the Companies Act, 2013, the capital is paid up share capital and 51% of such capital is held by CG/ SG/ partly by CG and partly by one or more SG and also includes a company which is a subsidiary company of such Government company.

  2. In Rule 19A (Continuous Listing Requirement), Sub-rule (6) has been substituted. Earlier, the CG, in the public interest, had the power to exempt any public sector company from any/ all provisions of thisRule.

    Now, the CG, in the public interest, can exempt any listed company in which the CG/ SG/ public sector company, individually or in combination, holds direct or indirect, majority of shares/ voting rights/ control of listed entity from any/ all provisions of this Rule.

*Kriti Kumar, Editorial Assistant has reported this brief.

Must Watch

maintenance to second wife

bail in false pretext of marriage

right to procreate of convict

Criminology, Penology and Victimology book release

Join the discussion

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.