Gold Monetisation Scheme designation permits Gold ETF investment subject to a cumulative AUM cap and legacy GDS maturities.
The Gold Monetisation Scheme is designated as a gold related instrument and Gold ETFs may invest in it subject to the same conditions previously applicable to the Gold Deposit Scheme. Cumulative investment by a Gold ETF in the Gold Deposit Scheme and the Gold Monetisation Scheme must not exceed 20% of the scheme's total assets under management. Existing Gold Deposit Scheme investments may run to maturity unless withdrawn prematurely.

Private placement threshold: companies must offer investor refund option with interest and verified documentation to avoid penal action.
Companies that issued securities before April 01, 2014 to more than forty-nine but up to two hundred persons may avoid penal action by offering affected investors the option to surrender securities for a refund not less than the subscription money paid plus interest or any higher promised return; refunds must be effected through banking channels, supported by proof of dispatch/delivery of offer letters, extendable to current holders on transfer, allow adjustment of prior interest/dividend payments, and be certified by an independent peer reviewed practicing Chartered Accountant after documentary verification.

Basic Services Demat Account conversion made default for eligible demat holders unless they opt to retain regular accounts.
The circular requires Depository Participants to convert eligible individual demat accounts into Basic Services Demat Account (BSDA) by assessing eligibility at the end of the billing cycle, unless the Beneficial Owner explicitly opts to retain a regular demat account; depositories must amend rules and report DP compliance monthly.

Software testing requirements for trading and risk management mandate exchanges to enforce testing, approval, and reporting obligations.
SEBI requires National Commodity Derivatives Exchanges to implement mandatory software testing and related controls for trading and risk management systems used by members, including testing procedures, approval of member software, member undertakings, sharing of API specifications, and penalties for software malfunction; Exchanges must amend bye laws/rules and report implementation status to SEBI.

Outsourcing restrictions for depositories require a Board approved policy, non outsourcing of core functions, and stringent risk controls.
Depositories must adopt a Board approved outsourcing policy consistent with SEBI principles, refrain from outsourcing specified core activities and core IT infrastructure to the extent possible, perform due diligence when engaging third parties, permit downstream subcontracting only with prior depository consent and contractual safeguards, undertake risk impact analysis with mitigation (including backup/restoration), implement monitoring and automation for real time oversight, and make the outsourcing policy the basis for system audits while amending bylaws and publicly disseminating the provisions.

Annual custody fee revision expands revenue sharing and funds DP incentives to promote BSDA uptake and inclusion.
Revision of the annual custody fee increases per-folio charges with tiered minimums while retaining the existing folio calculation methodology and excluding temporary ISINs; depositories must set aside 20% of incremental issuer revenue to fund annual DP incentives, comprising a per-new-BSDA opening payment for accounts opened outside the top 15 cities that record at least one credit during the year and a per-folio per-ISIN holding payment for BSDA positions, with any surplus usable for broader financial inclusion and investor education measures, effective from financial year 2015-16.

Regulatory filing requirement: commodity derivative exchanges must submit monthly development reports within the first week of the following month.
Commodity Derivative Exchanges must submit a Monthly Development Report in the prescribed format (Annexure A) from April 2015 and ensure the report reaches the regulator by the seventh day of the succeeding month. The filing is a standing regulatory obligation and is issued under the authority of Section 11(1) of the Securities and Exchange Board of India Act, 1992 to further investor protection and the development and regulation of the securities market.

System-driven disclosures require automated promoter shareholding tagging and daily reporting, with RTAs aggregating holdings for exchange dissemination.
A system-driven disclosure framework requires listed companies, through RTAs, to provide authenticated promoter/promoter group information including PANs or account numbers so depositories can tag dematerialised accounts at the ISIN level; depositories will send daily end-of-day holdings to RTAs, which must aggregate dematerialised and physical holdings, apply regulatory thresholds, generate reports and provide them to Stock Exchanges for dissemination, with RTAs reconciling system-generated disclosures against promoter filings to detect and rectify discrepancies.

Security deposit requirement aligned to issuance regulations; NOC process for release by designated exchange is modified.
Issuer companies must deposit a security deposit with the designated stock exchange for specified issuances and follow SEBI's procedure for issuance of a No Objection Certificate to permit release. Effective December 1, 2015, references to the Listing Agreement are replaced by specific issuance regulations (Issue of Capital and Disclosure Requirements 2009; Issue and Listing of Debt Securities 2008; Issue and Listing of Non-Convertible Redeemable Preference Shares 2013; Public Offer and Listing of Securitised Debt Instruments 2008), and the words "Listing Agreement" are deleted where specified.

Schemes of arrangement: procedural conditions and disclosure required for listing via SEBI relaxation under sub-rule (7) of SCRR.
SEBI prescribes procedural, eligibility, disclosure and compliance requirements for listed entities undertaking Schemes of Arrangement and for unlisted transferee entities seeking listing by way of relaxation under sub-rule (7) of the Securities Contracts (Regulation) Rules. Key conditions include allotment to holders of the listed transferor under a court-sanctioned scheme, minimum public shareholding post-scheme, prohibition on share issues outside the scheme, valuation and auditor reports, stock exchange observation, complaints reporting and specified voting, lock-in and post-sanction listing timelines.

Formats for publishing financial results require standardized disclosure and uniform reporting by listed entities, ensuring comparability and Ind AS compliance.
The circular mandates standardized formats for publishing quarterly and annual financial results for listed entities, specifying separate annexures for companies other than banks, banks, and entities using an alternative functional expense classification, and prescribes segmental disclosures, half yearly assets and liabilities statements, newspaper publication extracts, and auditor report templates; it requires adherence to applicable Accounting Standards, Schedule III classifications, Ind AS comparative compliance, and filing of Form A/Form B for audit opinions.

Minimum public shareholding compliance: listed entities must use specified methods to attain and maintain required public float.
Listed entities must achieve prescribed minimum public shareholding by adopting specified methods including issuance to public, offer for sale by promoters, secondary market sale by promoters, Institutional Placement Programme, rights issues and bonus issues with promoters forgoing entitlements, or other SEBI approved methods on a case by case basis; stock exchanges must notify listed entities and publish the circular, and SEBI will consider alternate proposals and communicate decisions within thirty days.

Disclosure rules require category wise shareholding reporting and dematerialisation thresholds for promoters and public holders.
Listed entities must classify holdings into Promoter and Promoter Group, Public, and Non Promoter Non Public, consolidate promoter holdings by PAN, disclose holders 1%, allocate shares underlying depository receipts by specified conditions, compute public and promoter percentages using A+B+C2 as denominator, ensure 100% promoter dematerialization subject to narrow exemptions, and achieve at least 50% dematerialization of non promoter holdings; prescribed disclosure formats and data provision by depositories and stock exchanges are mandated.

Non-compliance with listing obligations triggers fines, trading suspension and freezing of promoter shareholding under prescribed SOP.
Non-compliance with specified periodic disclosure obligations under the Listing Regulations attracts a structured enforcement regime: recognized stock exchanges must impose a uniform fine schedule as first resort, publish names of non compliant entities, and where defaults are successive move scrips to a segregated trading category and suspend trading following notice procedures. Exchanges shall instruct depositories to freeze promoter and promoter group shareholding on continued default, permit phased limited trading on a trade for trade basis during suspension, and follow prescribed revocation and unfreezing timelines upon compliance and fine payment.

Format for financial results: mandated uniform disclosure formats and review/audit report templates for listed debt issuers.
Prescribes uniform formats for periodic financial results of listed entities with listed debt securities and non cumulative redeemable preference shares: separate half yearly formats for companies other than banks and NBFCs, for banks and NBFCs, and an alternative functional classification format for eligible entities; limited review and audit report formats for non banking companies and banks/NBFCs; requirement to attach one of two audit opinion forms as applicable; stock exchanges to notify and disseminate formats; annexures include coverage ratio definitions and disclosure notes.

Disclosure requirements for securitised debt mandate monthly pool, tranche and loan-level reporting to stock exchanges.
Listed entities with listed securitised debt instruments must submit monthly statements/reports within seven days from month-end or actual payment date in SEBI-prescribed format. The format requires pool-level snapshots (collections, weighted averages, collection efficiency, reserve changes, excess spread, prepayments), a detailed waterfall of receipts and payments, tranche-level disclosures (ISIN, ratings, principal/interest factors, shortfalls, future cash flows) and loan-level data for top loans, including overdue status and credit enhancement balances. Exchanges must disseminate the format; effective December 1, 2015.

Deemed recognition under securities law requires commodity exchanges to meet stock exchange compliance and governance timelines.
Commodity derivatives exchanges are deemed to be recognized stock exchanges and must comply with SCRA and SECC Regulations within phased timelines. National exchanges have shorter compliance periods than regional exchanges for corporatization, demutualization, transfer of clearing and settlement to a separate clearing corporation, continuous compliance conditions, surveillance systems, networth and ownership requirements, governance norms, segregation of regulatory departments, committee constitution, compliance officer appointment, and disclosure and dematerialization obligations; exchanges must amend bylaws, notify members and report implementation to SEBI.

Investor grievance redressal strengthening mandates commodity exchanges to set ISCs and standardize arbitration mechanisms nationwide.
Mandates strengthening investor redressal and arbitration frameworks at national commodity derivatives exchanges by requiring establishment of Investor Service Centres, constitution of Investor Grievances Redressal Committees, maintenance of a panel of arbitrators with a code of conduct, application of prescribed arbitration fees, implementation of awards for clients, creation of a common pool of arbitrators with automatic selection, monthly reporting on implementation, and necessary bye law amendments and investor awareness measures.

Business Continuity Plan and Disaster Recovery obligations require exchanges to establish DR sites and report audit compliance to regulator.
Exchanges must conduct an Annual System Audit following the prescribed audit framework and communicate the Systems Audit Report and compliance status to the regulator. Exchanges must implement and document a Business Continuity Plan and Disaster Recovery arrangements-including Disaster Recovery and Near Site configuration, DR drills and testing-and submit the BCP/DR policy with a detailed implementation plan to the regulator. Exchanges should amend relevant bye-laws and report implementation status to ensure regulatory compliance.

ASBA facility mandatory for public issues, expanding collection points and ensuring coordinated listing within six working days.
The circular mandates exclusive use of the ASBA facility for public issue applications and broadens authorised application collection points to include RTAs and DPs alongside SCSBs, syndicate members and registered brokers. Intermediaries must upload bid details to the electronic bidding system, acknowledge receipt, coordinate blocking of funds with SCSBs, and comply with specified timelines to ensure listing and commencement of trading within six working days from issue closure. Stock exchanges will validate bids, permit daily modifications, and provide application and allotment status alerts to investors.