SEBI Consultation Paper on interim recommendations of the expert committee for facilitating Ease of Doing Business and Harmonization of the provisions of ICDR and LODR regulations
SEBI has released a consultation paper seeking public comments on recommendations of the Expert committee for facilitating ease of doing business and harmonization of the provisions of ICDR and LODR. The Expert committee was constituted following the budget announcement for FY 2023-24 for comprehensive review of existing regulations and has given recommendations on Applicability of the LODR regulations on the basis of market capitalization, Limit of membership and chairmanship of committees for a director, Filling up of vacancies of key managerial personnel, Timeline for prior intimation of board meetings, Gap between meetings of the Risk Management Committee among other things.
Further, the committee has proposed to allow certain public investors to contribute towards minimum public shareholding (MPS) without being classified as a promoter. The committee has also recommended easing of conditions that trigger refiling of initial public offering (IPO) documents by companies looking to list and leeway in terms of timeline for companies to fill up vacancies of key managerial persons among others.
Market participants can send their responses on the consultation paper by 1 February.
