MCA:
The Ministry of Corporate Affairs has notified the Investor Education and Protection Fund Authority (Appointment of Chairperson and Members, holding of meetings and provision for office and officers) Rules. 2016. These rules contain the composition of the authority, eligibility for becoming a Member of the Authority, the terms of office of members and functions of the Authority. The Secretary, Ministry of Corporate Affairs shall be the ex-officio Chairperson of the Authority. The members of the Authority appointed shall hold office for a period of three years and shall be eligible for reappointment. Further, the Authority shall have the duty to administer the Fund for lnvestor Education and Protection Fund.
SEBI:
SEBI has issued next set of FAQ’s on SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Through this set of FAQ an attempt has been made to clarify the points including definition of Associate Company, definition of Related Party, Signing of Compliance certificate, applicability of Regulation 24 on ‘unlisted material subsidiary, Limit on Directors to be a member in Committees, Disclosure as per Regulation 30(8), Definition of ‘material subsidiary as per Regulation 16(1)(c) etc. It has also be clarified that the requirement of submission of Annual Information Memorandum will become applicable as and when is specified by SEBI.
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