Lead manager responsibility for refunds and allotments ended with omission of the continuing-association requirement in securities issues. Regulation 25 was omitted with effect from 26 August 2009. Previously, a lead manager responsible for refunds or allotment had to remain associated until ... Summary
Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009
Lead manager responsibility for refunds and allotments ended with omission of the continuing-association requirement in securities issues.
Regulation 25 was omitted with effect from 26 August 2009. Previously, a lead manager responsible for refunds or allotment had to remain associated until subscribers received certificates or excess application money. If another person handled those functions, the lead manager remained responsible for ensuring compliance with the Companies Act and the applicable listing agreement.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.