In tandem, Part 1 of amendment of SEBI (ICDR) (Third Amendment) Regulations, 2022, SEBI in his action matrix with related to Regulatory Framework of Social Stock Exchange(Social Audit) vide notification dated 25th July, 2022, made following amendments in SEBI (LODR) FIFTH Amendment Regulations, 2022.

SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (FIFTH AMENDMENT) REGULATIONS, 2022

REGUL-ATIONS OF CH. – IX A

PARTICULARS NPO ONLY REGISTERED WITH SSE NPO REGISTERED AND WHOSE SECURITIES ARE LISTED ON SSE FPSE REGISTERED AND WHOSE SECURITIES ARE LISTED ON SSE
91D

 

 

 

 

 

Framing of policy for determination of Materiality & it’s disclosures to Stock Exchange N/A Applicable Applicable
91D Disclosure of any event
that may have a material impact on the planned achievement of outputs or outcomes
N/A As soon as possible but not later than 7 days including potential impact of the event and steps taken As soon as possible but not later than 7 days including potential impact of the event and steps taken
91C – NPO & 91B – FPSE Annual disclosures to the SSE on matters specified by the Board Within 60 Days Within 60 Days As specified in their RESPECTIVE SEGMENTS under CH. IV/V of this Regulations
91F Quarterly Disclosure of the statement in respect of utilisation of the funds raised N/A 1.    Disclosure of utilisation of the funds raised of following:

·      monies raised;

·      monies utilised;

·      remaining unutilised.

The unutilised amount shall be kept in a separate bank account

As specified in their RESPECTIVE SEGMENTS under CH. IV/V of this Regulations
91E Annual Impact Report Audited by Social Audit Firm employing the Social Auditor Audited by Social Audit Firm employing the Social Auditor Audited by Social Audit Firm employing the Social Auditor

According to SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSUREREQUIREMENTS) (THIRD AMENDMENT) REGULATIONS, 2022

292A(f): “Social Auditor” means an individual registered with a self-regulatory organization under the Institute of Chartered Accountants of India or such other agency, as may be specified by the Board, who has qualified a certification program conducted by National Institute of Securities Market and holds a valid certificate.

292A(g): “Social Audit Firm” means any entity which has employed Social Auditors and has a track record of minimum three years for conducting social impact assessment.

Note:

From the above definition it is clear that Social Auditor should be a Chartered Accountant and he should pass the certification program conducted by NISM.

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