The Securities and Exchange Board of India (SEBI) on October 13, 2022 has issued Notification regarding Governing Council for Social Stock Exchange(“SSE”).
The following has been stated namely: -
• Composition of Social Exchange Governing Council (SGC):
The SGC shall comprise individuals with relevant expertise who can contribute to the development of SSE. It shall have a balanced representation, drawing from various categories of stakeholders as prescribed. SGC will have a minimum of 7 members having representation from each category prescribed.
• Terms of Reference:
1. Provide expertise towards development of the SSE including growth of registration/listing of social enterprises and number of investors.
2. Oversee the listing function of SSE and provide guidance in laying down procedures for on-boarding and listing of Social Enterprises.
3. Facilitate effective oversight on the adequacy of disclosures made by Social Enterprises and guide the development of necessary systems and processes towards the same.
[Notification No. SEBI/HO/MRD/MRD-RAC-2/P/CIR/2022/141]
