CS Executive · Capital Market and Securities Laws · Securities Market Intermediaries
Sunrise Registry Services Pvt Ltd wants to act as a registrar to an issue for public offerings of Indian companies. Under the SEBI Act, 1992, what must it hold before it begins to carry on this activity?
A registrar to an issue must hold a certificate of registration from SEBI, obtained under the regulations framed under the SEBI Act. Section 12(1) bars such intermediaries from operating without it, and neither a stock exchange licence nor company incorporation can substitute for it.
- AA certificate of registration obtained from SEBI in accordance with the regulationsCorrect
- BA licence from the stock exchange where the issuer is to be listed
- CAn approval from the Registrar of Companies of the issuer's state
- DNo registration, if it is incorporated as a company under the Companies Act
Explanation
Section 12(1) of the SEBI Act lists registrars to an issue among intermediaries who may not deal in securities except under a certificate of registration obtained from SEBI in accordance with the regulations. Stock exchange or ROC approval does not replace this. Incorporation as a company does not exempt the entity.
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