Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Regulation 42: Record Date or Date of closure of transfer books.
Effective date 01.12.2015
Record Date or Date of closure of transfer books.
Regulation 42 (1) The listed entity shall intimate the record date for the following events to all the stock exchange(s) where it is listed or where stock derivatives are available on the stock of the listed entity or where listed entity’s stock form part of an index on which derivatives are available: to all the stock exchange(s) where it is listed for the following purposes:
(a) Declaration of dividend;
(b) Issue of right or bonus shares;
(c) Issue of shares for conversion of debentures or any other convertible security;
(d) Shares arising out of rights attached to debentures or any other convertible security
(e) Corporate actions like mergers, de-mergers, splits, etc;
(e) Corporate actions like mergers, de-mergers, splits and bonus shares, where stock derivatives are available on the stock of listed entity or where listed entity’s stocks form part of an index on which derivatives are available;
(f) Such other purposes as may be specified by the stock exchange(s).
(2) The listed entity shall give notice in advance of atleast seven working days (excluding the date of intimation and the record date) to stock exchange(s) of record date specifying the purpose of the record date.
Provided that in the case of rights issues, the listed entity shall give notice in advance of atleast three working days (excluding the date of intimation and the record date).
(3) The listed entity shall recommend or declare all dividend and/or cash bonuses at least five working days (excluding the date of intimation and the record date) before the record date fixed for the purpose.
(4) The listed entity shall ensure the time gap of at least thirty days between two record dates.
(5) For securities held in physical form, the listed entity may, announce dates of closure of its transfer books in place of record date for complying with requirements as specified in sub-regulations (1) to (4):
Provided that the listed entity shall ensure that there is a time gap of atleast thirty days between two dates of closure of its transfer books.
