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

Under section 11A(2) of the SEBI Act, 1992, which statement about SEBI's power on listing is correct?

Section 11A(2) allows SEBI to specify requirements for listing and transfer of securities and incidental matters, without prejudice to section 21 of the SCRA. So SEBI's listing powers sit alongside, and do not displace, the obligation to comply with the listing agreement.

  1. ASEBI may specify requirements for listing and transfer of securities and incidental matters, without prejudice to section 21 of the SCRACorrect
  2. BSEBI may specify listing requirements only by overriding section 21 of the SCRA
  3. CSEBI's power covers listing but not transfer of securities
  4. DSEBI may specify listing requirements only through orders on a prospectus

Explanation

Section 11A(2) says that without prejudice to section 21 of the SCRA, SEBI may specify requirements for listing and transfer of securities and other incidental matters. It therefore operates alongside, not in override of, the listing agreement duty in section 21. It covers both listing and transfer.

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