SEBI UPDATES-Listing Obligations and Disclosure Requirements) (Amendment)Regulations, 2016.

                                                          SEBI UPDATES

In exercise of the powers conferred by section 11, sub section (2) of section 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,

These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment)Regulations, 2016.

They shall come into force on the 1st day of April, 2016.

Few of the amendments are as follows:

 In the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,
I.in regulation 33, i. in sub regulation (3),in clause (d),–

a) after the words “listed entity shall submit” and before the words “audited standalone financial results”, the word “annual” shall be inserted;

b) for the words and symbols “either Form A (for audit report with unmodified opinion) or Form B(”, the words and symbols “Statement on Impact of Audit Qualifications (applicable only” shall be substituted;

c) in the proviso, for the words and symbols “either Form A (for audit report with unmodified opinion) or Form B (”, the words and symbols “Statement on Impact of Audit Qualifications (applicable only” shall be substituted;

d) in the proviso, for the symbol “.”, the symbol “:” shall be substituted;

e) after the proviso, the following new proviso shall be inserted, namely, “Provided further that, in case of audit reports with unmodified opinion(s), the listed entity shall furnish a declaration to that effect to the Stock Exchange(s) while publishing the annual audited financial results.”;

ii. in sub regulation (4),

a) for the words and symbols “Form A (for audit report with unmodified opinion) & Form B (for audit report with modified opinion)”, the words and symbols “Statement on Impact of Audit Qualifications (for audit report with modified opinion)” shall be substituted;

b) the words “from time to time” shall be deleted;

iii. in sub regulation (6), a) for the words “Form B”, the words and symbols “Statement on Impact of Audit Qualifications(for audit report with modified opinion)” shall be substituted; b) the words and symbols “and Qualified Audit Report Review Committee in manner as specified in Schedule VIII” shall be deleted;

iv. sub regulation (7) shall be deleted;

II.in regulation 34, in sub regulation (2) in clause (a), for the symbol “;”the words and symbols “, and Statement on Impact of Audit Qualifications as stipulated in regulation 33(3)(d), if applicable;” shall be substituted;

III.in regulation 53, in clause (a), for the symbol “;”the words and symbols “, and Statement on Impact of Audit Qualifications as stipulated in regulation 52(3)(a), if applicable;” shall be substituted;

​
 

Thanks & Regards
RAVI GARG (CS)     

91-7838204665, 
 

Facebook Group

Google Group

Linkedin