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CS Executive · Capital Market and Securities Laws · Listing Obligations and Disclosure Requirements

A listed company, Bharat Components Ltd, asks which source gives SEBI the power to specify requirements for listing and transfer of securities and incidental matters, which underlies the governance norms imposed on listed entities. Which is correct?

Section 11A(2) of the SEBI Act, 1992 empowers SEBI to specify the requirements for listing and transfer of securities and incidental matters, without prejudice to section 21 of the SCRA. This is the enabling source for listing-related governance norms.

  1. ASection 11A(2) of the SEBI Act, 1992, without prejudice to section 21 of the SCRA, 1956Correct
  2. BSection 3 of the SEBI Act, 1992, dealing with the head office of SEBI
  3. CSection 15H of the SEBI Act, 1992, dealing with penalty for takeover non-disclosure
  4. DSection 17A of the SCRA, 1956, which applies to all listed equity shares

Explanation

Section 11A(2) of the SEBI Act allows SEBI to specify requirements for listing and transfer of securities and incidental matters, without prejudice to section 21 of the SCRA. Section 3 only establishes SEBI, and section 15H is a penalty provision.

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