General Instructions issued by SEBI to RTISTA
Summary
This section establishes the requirement for Registrars to designate a Compliance Officer to coordinate with regulatory authorities and ensure internal compliance. It mandates that all correspondence regarding registration and clarifications must originate solely from the Principal Office of the Registrars. Additionally, it outlines the necessity for a Code of Conduct to prevent insider trading and details the penalty framework involving warning letters for persistent defaults. The document outlines procedural requirements for Registrars regarding correspondence with SEBI and the use of bulk registered mail through designated post offices. It details the processing of applications, including measures to weed out multiple submissions and verify payment instruments. Additionally, it specifies protocols for handling applications via collection agents and mandates adherence to proportionate allotment procedures in case of oversubscription. This section outlines the procedural requirements for registrars handling share applications accompanied by stockinvests. It details the steps for receiving, numbering, and processing these instruments alongside other payment modes. The text further
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Registrars shall designate a senior officer as Compliance Officer to coordinate with regulatory authorities, provide guidance, ensure internal compliance, and prevent recurrence of deficiencies pointed out by SEBI.
Correspondence relating to registration and clarifications on Guidelines/Circulars issued by SEBI shall be made only by the Principal Office of the Registrars and not by branch offices.
Necessary Code of Conduct for officers and employees of Registrars should be framed to prevent insider trading in light of SEBI Insider Trading Regulations, 1992.
SEBI may issue warning letters or penalty point advices to give Registrars an opportunity to make up deficiencies; failure to improve after three such notices may lead to suspension/cancellation under Regulations 22 or 23.
Every RTI must enter into a valid agreement with the issuer setting out mutual rights, liabilities, and obligations, including investor grievance redressal, ensuring no diminution of liabilities under Companies Act or SEBI Rules.
The registration number contained in the certificate of registration should be quoted in all the correspondence with SEBI, Government authorities, Stock Exchanges and its clients.
The department (i.e. the Office of the Chief Postmaster General) will grant permission for computerised Registered Journals by the parties concerned with a separate code for each mailer and a separate pre-fix for each issue/company.
The Registrars to the Issue should prepare PIN code number wise list and accordingly club articles to be mailed.
In case of very large bulk registered mailers, facility of accepting, sorting and bagging at their premises will be arranged by postal authorities. The department will also arrange to provide for necessary manpower, canvas bags, stamps, seals etc. The mailer will provide for transport for taking the bags to the Railway Station/Airport.
The Registrars to the Issue should intimate their bulk mailing programme to the designated post offices or mailing centres at least a week or 10 days in advance and obtain necessary permission for the same. These post offices of bulk mailing centres will also act as nodal agencies for bulk booking as also for providing related assistance of manpower, etc.
RTIs shall therefore ensure mailing of articles by Registered Post as per the extant Postal Rules. Issuers are made to declare in the prospectus that adequate funds will be made available to the Registrars for the purpose.
The Registrars should take proper care and evolve a suitable system whereby multiple applications can be weeded out and eliminated.
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Source: SecMarx — General Instructions issued by SEBI to RTISTA. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.