Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2023 - SEBI/LAD-NRO/GN/2023/117 - SEBI
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Governance norms for infrastructure and real estate investment trusts clarified; senior management definition and disclosure updated. Governance norms for Infrastructure Investment Trusts and Real Estate Investment Trusts are made subject to their respective SEBI regulations, overriding certain Listing Regulation provisions. Regulation 15 is amended to address appointment and re-appointment procedures, including shareholder approval requirements for public sector companies. The definition of senior management is expanded to include core management one level below the CEO/MD/Manager and specific functional heads, Company Secretary and CFO. Terminology is standardised to 'key managerial personnel' and Schedule V now requires disclosure of details of material subsidiaries and their statutory auditors.
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Governance norms for infrastructure and real estate investment trusts clarified; senior management definition and disclosure updated.
Governance norms for Infrastructure Investment Trusts and Real Estate Investment Trusts are made subject to their respective SEBI regulations, overriding certain Listing Regulation provisions. Regulation 15 is amended to address appointment and re-appointment procedures, including shareholder approval requirements for public sector companies. The definition of senior management is expanded to include core management one level below the CEO/MD/Manager and specific functional heads, Company Secretary and CFO. Terminology is standardised to "key managerial personnel" and Schedule V now requires disclosure of details of material subsidiaries and their statutory auditors.
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