The Securities and Exchange Board of India (SEBI) on May 25, 2023, issued a circular regarding the Model Tripartite Agreement between the Issuer Company, Existing Share Transfer Agent, and New Share Transfer Agent as per Regulation 7(4) of SEBI (Listing Obligation and Disclosure Requirements) Regulation, 2015.
The following has been stated namely: -
• The Regulation 7(4) of SEBI LODR Regulations, 2015 states that “in case of any change or appointment of a new share transfer agent, the listed entity shall enter into a tripartite agreement between the existing share transfer agent, the new share transfer agent, and the listed entity, in the manner as specified by the Board from time to time.”
• It states that a model Tripartite Agreement has been prepared in consultation with the Registrar Association of India and some issuer companies, the Format of the Tripartite Agreement is placed in Annexure-A
• The RTAs and listed companies are advised to perform the following functions namely: -
(i) publish the format of the tripartite agreement on their respective websites.
(ii) comply with the conditions laid down in this circular
(iii) make necessary amendments to the relevant bye-laws, rules, regulations, and operational instructions, as the case may be, for implementing the above circular.
• The RTAs are advised to submit compliance with the direction above to SEBI vide email at [email protected] latest by June 01, 2023, along with the link to their website containing the format of the tripartite agreement.
• This circular is available on the SEBI website at www.sebi.gov.in under the categories “Legal Framework -> Circulars
[Circular No. SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2023/79]
