SEBI (LODR) (Second Amendment) Regulations, 2022

Securities And Exchange Board Of India (SEBI) (LODR) (Listing Obligations And Disclosure Requirements) (Second Amendment) Regulations, 2022

F. No. SEBI/ LAD-NRO/GN/2022/76.─ In exercise of the powers conferred by section 11, sub-section (2) of section 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, namely:-

1. These regulations may be called the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Second Amendment) Regulations, 2022.
   
2. They shall come into force on the date of their publication in the Official Gazette.
   
3. In the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,-
   
   I. in regulation 17, sub-regulation (1B) shall be omitted.
   
   II. in Schedule II, in PART E, after clause C, the following shall be inserted, namely, –
   
   “D. Separate posts of Chairperson and the Managing Director or the Chief Executive Officer
   
   The listed entity may appoint separate persons to the post of the Chairperson and the Managing Director or the Chief Executive Officer, such that the Chairperson shall –
   (a) be a non-executive director; and
   (b) not be related to the Managing Director or the Chief Executive Officer as per the definition of the term “relative” defined under the Companies Act, 2013.”

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