In case of in-house share transfer facility, as and when total number of holders of securities of the listed entities exceeds 1 lakh, the listed entity shall either register with SEBI as a Category II share transfer agent or appoint a SEBI registered Registrar to an issue and share transfer agent.
The listed entity should ensure that all activities related to share transfer facility are maintained either in-house or by a SEBI registered RTA.
Listed entity means an entity which has listed, on a recognised stock exchange(s), the designated securities issued by it or designated securities issued under schemes managed by it, in accordance with the listing agreement entered into between the entity and the recognised stock exchange(s).
SEBI (RTA) Regulations defines Registrar to an Issue as a person who carries on (i) collecting applications from investors in respect of an issue (ii) Keeping a proper record of applications and monies received from investors or paid to the seller of the securities and (iii) iii. Assisting body corporate or person or group of persons in : a) determining the basis of allotment of securities in consultation with stock exchange, b) finalising list of persons entitled to allotment, c) processing and dispatching allotment letters, refund orders or certificates and other related documents in respect of an issue
Share Transfer Agent - (i) any person, who on behalf of any body corporate, maintains the records of holders of securities issued by such body corporate and deals with all matters connected with the transfer and redemption of its securities, (ii) a department or division, by whatever name called, of a body corporate performing the activities referred in sub-clause (i) if at any time the total number of the holders of its securities issued exceed one lakh.
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