Ministry of Finance vide Notification No. G.S.R. 822(E) on Monday, 3rd July, 2017 notified Securities Contract (Regulation) 3rd Amendment Rules, 2017 which shall come into force on the date of publication in Official Gazette. Vide said notification provisions relating to Continuous Listing requirement i.e. proviso to Rule 19A(1) have been amended.
In sub-rule (1) of Rule 19A there is requirement for listed company to maintain at least 25% of public shareholding, the proviso to the said sub-rule has been amended stating that listed company which has public shareholding below 25% on commencement of Securities Contracts (Regulation) (Amendment) Rules, 2014, shall increase its public shareholding to at least 25%, within a period of 4 years (previously was 3 years) from the date of such commencement.
The said Notification can be accessed from the following link:SEBI Noti_03.07.2017_SecContract(Reg)3rdAmndRuls2017