Dematerialised allotment and trading approval requirement limit transfers until full trading approval is obtained. The amendments require disclosure of the natural persons who are the ultimate beneficial owners or controllers of proposed allottees, allow a disclosure proviso where a listed company, mutual fund, bank or insurance company is in the ownership chain, mandate allotment only in dematerialised form (including shares from warrants or convertible securities), require cash consideration to be received from the allottee's bank account with a statutory auditor's certificate of compliance submitted to the stock exchange, replace 'allotment' references with 'trading approval' and bar transfer of preferentially allotted securities until trading approval by all recognised stock exchanges.