Important Points for IC 99 - Asset Management Exam
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Allotment, refund and payment of interest (Regulation 18) : The issuer and merchant bankers shall ensure that specified securities are allotted and / or application moneys are refunded within 15 days from the date of closure of the issue.
Pricing (Regulation 28) : An issuer may determine the price of specified securities in consultation with the lead merchant banker or through the book building process.
Application to the Central Government for Recognition (Section 3) : Section 3 of SCRA lays down that any stock exchange, desirous of being recognised for the purposes of this Act is required to make an application to the Central Government.
Power of Recognised Stock Exchanges to make bye-laws (Section 9) : According to Section 9, any recognised stock exchange may, subject to the previous approval of SEBI, make bye-laws for the regulation and control of contracts.
For a company to be listed on a stock exchange, the company has to enter into a listing agreement with the respective stock exchange(s).
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