LIST/COMP/18/2018-19 September 14, 2018
Dear Sir / Madam,
Subject : Amendment to Regulation 40 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 with respect to mandatory dematerialization for transfer of securities – Clarification
The amendment to Regulation 40 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 vide Gazette notification dated June 8, 2018 has mandated that transfer of securities would be carried out in dematerialized form only.
Accordingly, the Exchange vide circular no. LIST/COMP/15/2018-19 dated July 5, 2018 to listed companies had intimated the actions to be taken by listed companies to implement the aforesaid Amendment in the Regulation. The circular inter-alia advised companies to send a letter under Registered / Speed Post informing about mandatory dematerialization for transfer of securities w.e.f. December 05, 2018 and two reminders thereof after gap of 30 days.
As now advised by SEBI, it is clarified that listed entities may be permitted to send initial letter along with its Annual Report and / or notice of Annual General Meeting and subsequent two reminders may be sent by other modes including ordinary post / courier.
Listed Companies are required to take note of the said clarification and comply accordingly.
Netra Sahani Shyam Bhagirath
Deputy General Manager Associate Manager
Listing Compliance Listing Compliance
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