Important Points for IC 99 - Asset Management Exam
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Analytically, the SEBI has three types of powers : quasi-judicial, quasi-legislative and quasi-executive. SEBI has the powers to issue regulations under its legislative capacity, conduct investigations and impose action under its executive function, and pass new rules and orders under its judicial capacity.
Under Section 11C, SEBI has the power to conduct investigation. If the person fails without reasonable cause to furnish the required information, SEBI may punish the person with imprisonment for a term which may extend up to one year or fine which may extend up to Rs. one crore.
According to SEBI (ICDR) Regulations, 2009 a company has to file a draft offer document along with prescribed fees to SEBI through the lead merchant banker, at least 30 days prior to registering the prospectus with the Registrar of Companies.
ABC Company issued shares as a result of capitalisation of profits and listed those shares. This is an example of listing of bonus shares.
Regulation 3 (Applicability of regulations) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009 is applicable to a rights issue, where the aggregate value of specified securities offered is fifty lakh rupees or more.
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