Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper
Summary
This part introduces the Master Circular for the issue and listing of various debt instruments, consolidating previous circulars into a single document. It establishes that all prior directions listed in Annexure 1 are rescinded upon issuance of this circular. The text outlines transitional provisions ensuring continuity for actions taken under rescinded circulars and mandates compliance by market stakeholders. This section provides a comprehensive table of contents outlining the structure of the regulatory document, spanning from Chapter I to Chapter XXVI along with various annexures. It includes a list of abbreviations used throughout the text, defining terms such as ASBA, BSE, CRA, and EBP for clarity. The content serves as an index and reference guide rather than containing substantive legal obligations or prohibitions. This section provides definitions for various financial abbreviations and acronyms used in the document. It outlines the applicability of regulations concerning public issues of securities under specific SEBI frameworks. The text details the procedures, roles, and mechanisms for making applications through ASBA and UPI. This section outlines operational requirem
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In order to enable the issuers... to have an access to all the applicable circulars/ directions in the subject matter at one place, this Master Circular is issued.
With the issuance of this Master Circular, all directions/instructions contained in the Circulars listed out in the Annexure - 1 to this Master Circular shall stand rescinded...
anything done or any action taken or purported to have been done or taken under the rescinded circulars, prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master Circular;
any application made to the Board under the rescinded circulars, prior to such rescission, and pending before it shall be deemed to have been made under the corresponding provisions of this Master Circular;
the previous operation of the rescinded circulars... any right, privilege, obligation or liability acquired... any penalty... or any investigation... shall not be affected by such rescission and shall be enforceable as if the rescinded circulars had continued to be in force.
Recognized Stock Exchanges, Depositories, other SEBI registered intermediaries, Issuers and other stakeholders are directed to: Disseminate the provisions of this circular on their website;
comply with the conditions laid down in this circular;
put in place necessary systems and infrastructure for implementation of this circular;
make consequential changes, if any, to their respective bye-laws, rules and regulations and bidding portal;
Communicate and create awareness amongst stakeholders.
Monitor the compliance of this circular by issuer companies, as applicable
This Master Circular is issued in exercise of powers conferred under Section 11(1) of Securities and Exchange Board of India Act, 1992, Regulation 55 of SEBI NCS Regulations, 2021; Regulation 29 of SEBI ILDM Regulations 2015; Regulations 48 of SEBI SDI Regulations, 2008...
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Source: SecMarx — Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.