SEBI notifies rules for listing at Social Stock Exchange by Non Profit Organizations/Profit Social Enterprises
SEBI has notified the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Third Amendment) Regulations, 2022.
These regulations apply to the following:
(a) a Not for Profit Organization seeking to only get registered with a Social Stock Exchange;
(b) a Not for Profit Organization seeking to get registered and raise funds through a Social Stock Exchange;
(c) a For Profit Social Enterprise seeking to be identified as a Social Enterprise under the provisions of this Chapter.
The Social Stock Exchange has been defined to means a separate segment of a recognized stock exchange having nationwide trading terminals permitted to register Not for Profit Organizations and / or list the securities issued by Not for Profit Organizations in accordance with provisions of these regulations
A not for Profit Organization or a For Profit Social Enterprise shall be called “Social Enterprise” that meets the specified eligibility criteria which inter alia require establishing primacy of its social intent, targeting underserved or less privileged population segments or regions and having at least 67% of its activities, qualifying as eligible activities to the target population.
Further, a “For Profit Social Enterprise” means a company or a body corporate operating for profit, which is a Social Enterprise for the purposes of these regulations and does not include a company incorporated under section 8 of the Companies Act, 2013.
The amendment deals with eligibility for raising of funds by Social Enterprises, issuance of Zero Coupon Zero Principal Instruments, issuance of Zero Coupon Zero Principal Instruments.
GSTN Advisory & FAQs related to Electronic Credit Reversal and Re-claimed Statement and RCM Liability/ITC Statement To ensure correct and…
It is well settled that if any receipt cannot be subjected to tax being exempt under law, negligence of any…
Since UPGST Authorities unable to inform when notice sent by GSTN Portal may have been retrieved or downloaded, no inference…
High Court declines plea of assessee that Income Tax Department wrongly read amount of cash deposit of Rs. 250000 Cr…
Discontinuance of business of partnership firm will not result in vesting ownership of firm's property with individual partners for capital…
Stipulation of 120 days for release of seized jewellery/gold u/s 132B is directory not mandatory – Delhi High Court In…