Exemption from LES transparency requirements allows IFSC exchanges to create dedicated reserves for scheme incentives. SEBI exempts IFSC stock exchanges from specified LES transparency and measurability requirements on condition that exchanges create a dedicated reserve for LES incentives/expenses based on a normative domestic study, exclude such reserves from net worth, and submit proposals for SEBI approval; other provisions of the earlier LES circular remain operative.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption from LES transparency requirements allows IFSC exchanges to create dedicated reserves for scheme incentives.
SEBI exempts IFSC stock exchanges from specified LES transparency and measurability requirements on condition that exchanges create a dedicated reserve for LES incentives/expenses based on a normative domestic study, exclude such reserves from net worth, and submit proposals for SEBI approval; other provisions of the earlier LES circular remain operative.
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