SEBI release amendments on Framework for Social Stock Exchange
SEBI has notified detailed framework on Social Stock Exchange in September, 2022 and based on the feedback received through public consultation suitable amendments have been made in SEBI ICDR as well as LODR Regulations. Now SEBI has released amendment in the aforesaid framework related to Minimum requirement to be met by a Not for Profit Organization (NPO) for registration with SSE in terms of Regulation 292F of the ICDR Regulations, Procedure for public issuance of Zero Coupon Zero Principal Instruments by a not for profit organization, Contents of the fund raising document, Other conditions relating to issuance of Zero Coupon Zero Principal Instruments etc.
As per the amendments, details regarding pending notices or scrutiny cases from all regulatory and statutory authority shall be disclosed at the time of making the application for the registration with SSE. The Stock Exchanges shall have the right to refuse registration of those applicants, if the notices/scrutiny cases are grave and debilitating enough to endanger the registration of the NPO under the Income-tax Act, 1961 or other relevant laws.
