Reduction of Time-line for Transfer of Equity Shares and Prescription of Time-line for Transfer of Debt Securities
Summary
This circular reduces the time-line for registering the transfer of equity shares from one month to 15 days. The same 15-day time-line is extended to apply to the transfer of debt securities. Recognized stock exchanges and SEBI-registered registrars are directed to amend relevant listing agreements and adhere to these new timelines.
Text
reduce the time-line for registering the transfer of shares to 15 days. The same time-line shall also be applicable for transfer of debt securities.
to amend Clauses 3 (c) and 12A(3) of the listing agreement for equity shares
to amend Clauses 3(c) and 14(b) of the SME Equity listing agreement
to incorporate the time-line of 15 days for transfer of debt securities and the provision for compensation of the opportunity losses caused during the period of delay in transfer, in the listing agreement for debt securities
to amend any other clauses as applicable in the above listing agreements.
All SEBI registered Registrars to an Issue and Share Transfer Agents are directed to adhere to the above time-lines for transfer of shares and debt securities.
the time-line for transfer of shares and / or provision for compensation for delay thereof... stand modified.
This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992... shall come into force with effect from October 01, 2012.
Source: SecMarx — Reduction of Time-line for Transfer of Equity Shares and Prescription of Time-line for Transfer of Debt Securities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.