The Securities and Exchange Board of India (SEBI) on June 14, 2023, published the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2023 to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
This shall come into force on the thirtieth day from the date of their publication in the Official Gazette
The following has been amended namely: -
• In Regulation 2 which states “Definitions” in sub-regulation (1), after clause (r) and before clause (s), the following clause shall be inserted, namely, -
“(ra) “mainstream media” shall include print or electronic mode of the following namely: -
(i) Newspapers registered with the Registrar of Newspapers for India.
(ii) News channels permitted by the Ministry of Information and Broadcasting under the Government of India.
(iii) Content published by the publisher of news and current affairs content as defined under the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.
(iv) Newspapers or news channels or news and current affairs content similarly registered or permitted or regulated, as the case may be, in jurisdictions outside India.
• The Regulation 3 which states “Applicability of the regulations” the following changes shall be made namely: -
(i) The sub-regulations III, XI, XII, and XIV of Regulation 3 shall come into force on June 14, 2023
(ii) The sub-regulation XII shall not be applicable to such sale, lease, or disposal of undertakings of a listed entity where the notice has already been dispatched to the shareholders of the listed entity.
(iii) The sub-regulation X shall be applicable to the issuers whose public issues open on or after these regulations come into effect
• In Regulation 6 states “Compliance Officer and his /her Obligations” after sub-regulation (1), the following sub-regulation shall be inserted, namely, -
“(1A) Any vacancy in the office of the Compliance Officer shall be filled by the listed entity at the earliest and in any case not later than three months from the date of such vacancy:
Provided that the listed entity shall not fill such vacancy by appointing a person in an interim capacity unless such appointment is made in accordance with the laws applicable in case of a fresh appointment to such office and the obligations under such laws are made applicable to such person.”
[Notification No. SEBI/LAD-NRO/GN/2023/131]
