THE GAZETTE OF INDIA
PART -II – SECTION 3 – SUB SECTION (ii)
PUBLISHED BY AUTHORITY
SECURITIES AND EXCHANGE BOARD OF INDIA
Mumbai, the 21st August 2003
SECURITIES AND EXCHANGE BOARD OF INDIA
(CENTRAL LISTING AUTHORITY) REGULATIONS, 2003***
***Repealed by Notification No. 11/LC/GN/2007/1406, w.e.f. 02.01.2007
S.O. No. 954 (E). – (E) In exercise of the powers conferred by sections 11 and 1 1A read with sections 19 and 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations, namely:
Short Title and Commencement
1(1) These regulations shall be called Securities and Exchange Board of India (Central Listing Authority) Regulations, 2003.
(2) These regulations shall come into force on such date as may be specified by the Board:
Provided that different dates may be specified for different provisions of these regulations and in application to different kinds of securities or issues.
(3) These regulations shall apply to the issue of all classes of securities that are proposed to be listed.
2(1) In these regulations, unless the context otherwise requires:
(a)‘Act’ means the Securities and Exchange Board of India Act, 1992;
(b) ‘applicant’ means any company or other body corporate, mutual fund or collective investment scheme, acting by itself or through a merchant banker, who proposes to make an application to the Authority for a letter precedent to listing;
(c)‘Authority’ means the Central Listing Authority established under regulation 3 of these regulations;
(d) ‘Board’ means the Securities and Exchange Board of India established under section 3 of the Act;
(e)‘Chief Executive Officer’ means a person, including a Member, appointed as such by the Authority with the previous approval of the Board;
(g) ‘exchange’ means a stock exchange which has been granted recognition under Section 4 of the Securities Contracts (Regulation) Act, 1956;
(h) ‘letter precedent to listing’ means a letter issued by the Authority under regulation 12, permitting the applicant to make a listing application to any exchange, including forrelisting and listing of an already listed security at an exchange other than the exchange where it is presently listed;
(i) listing agreement’ means the agreement that is entered into between an exchange and an applicant under which the securities are listed and dealt with in the concerned exchange;
(j) ‘listing application’ means an application made by an applicant, under applicable laws, to an exchange for permission for its securities to be listed and dealt with in the exchange;
Explanation: An application to any exchange for obtaining any prior ‘inprinciple’ approval or for obtaining the comments or observations of the exchange on such application shall not be deemed to be a listing application for the purposes of these regulations;
(k)listing conditions’ means the conditions to be fulfilled by a company or other body corporate, mutual fund or collective investment scheme for the purpose of getting its securities listed on an exchange; and
(l) ‘securities’ shall have the meaning assigned to it under Section 2(h) of the Securities Contracts (Regulation) Act, 1956.
(2) (a) Words and expressions used and not defined in these regulations shall have the meanings, if any, respectively assigned to them under the Act.
(b) Words and expressions used and not defined either in these regulations or the Act, shall have the meanings, if any, respectively assigned to them under the Securities Contracts (Regulation) Act, 1956 or any statutory modification or re-enactment thereof.
(c) Words and expressions used and not defined either in these regulations, or in the Act or in the Securities Contracts (Regulation) Act, 1956 shall have the meanings, if any, respectively assigned to them under the Companies Act, 1956, or any statutory modification or re-enactment thereof.
CHAPTER II CENTRAL LISTING AUTHORITY
Establishment of the Central Listing Authority
3 (1) With effect from such date as may be specified by the Board in this regard, there shall be established for the purposes of these regulations, an authority to be called the “Central Listing Authority” and with effect from such date, the Board shall be deemed to have delegated its functions and powers, as are specified herein, to the Authority.
(2) The head office of the Authority shall be located in Mumbai:
Provided that the Authority may, with prior approval of the Board, establish such branch or regional offices as may be necessary.
Composition of the Authority
4 (1) The Authority shall, at any time, be composed of not more than eleven Members comprising of: