LAD-NRO/GN/2011-12/36/3187 - In exercise of powers conferred by sub- segmentation (1) of section 30 of the Securities and permutation Board of India Act, 1992 (15 of 1992) read with article (f) of sub-section (2) of Section 77A of the Companies Act, 1956 (1 of 1956) the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998, namely:-
1. These regulations shall be called the. Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2012.
2. They shall go up into force on the date of their publication in the formalised Gazette.
3.
In the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998-
(i) in regulation 2, in sub-regulation (1),
(a) after clause (l), the following new clause shall be inserted, namely:-
(la) „small shareowner? means a shareholder of a listed comp any, who holds shares or other condition securities whose market value, on the basis of closing price of shares or other specified securities, on the recognised stock exchange in which highest business volume in respect of such security, as on record date is not more than two lakh rupee;
(b) after clause (o), the following new clause shall be inserted, namely:-
(p) „working day? means any working day of the Board.
(ii) In regulation 5, in sub-regulation (1) speech and figures Schedule I shall be substituted with the words and figures Schedule II, grammatical constituent A.
(iii) regulation 5A shall be substituted with the following, namely:-
Board occlusion
5A. A company, authorized by a resolution passed by the Board of Directors at its meeting to buy back its shares or other specified securities under first provision
to clause (b) of sub-section (2) of section 77A of the Companies Act, 1956, as inserted by the Companies (Amendment) Act, 2001, shall file a copy of...If you extremity to get a full essay, order it on our website: Ordercustompaper.com
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