Lawgist29Public offer of securities to be in dematerialised form
(1) Notwithstanding anything contained in any other provisions of this Act,--
(a) every company making public offer; and
(b) such other class or classes of 1*** companies as may be prescribed,
shall issue the securities only in dematerialised form by complying with the provisions of the Depositories Act, 1996 (22 of 1996) and the regulations made thereunder.
2[(1A) In case of such class or classes of unlisted companies as may be prescribed, the securities shall be held or transferred only in dematerialised form in the manner laid down in the Depositories Act, 1996 and the regulations made thereunder.]
(2) Any company, other than a company mentioned in sub-section (1), may convert its securities into dematerialised form or issue its securities in physical form in accordance with the provisions of this Act or in dematerialised form in accordance with the provisions of the Depositories Act, 1996 (22 of 1996) and the regulations made thereunder.
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1. The word "public" omitted by Act 22 of 2019, s. 7 (w.e.f. 15-8-2019).
2. Ins. by s. 7, ibid. (w.e.f. 15-8-2019).
- 23 Public offer and private placement
- 24 Power of Securities and Exchange Board to regulate issue and transfer of securities, etc
- 25 Document containing offer of securities for sale to be deemed prospectus
- 26 Matters to be stated in prospectus
- 27 Variation in terms of contract or objects in prospectus
- 28 Offer of sale of shares by certain members of company
- 29 Public offer of securities to be in dematerialised form
- 30 Advertisement of prospectus
- 31 Shelf prospectus
- 32 Red herring prospectus
- 33 Issue of application forms for securitie
- 34 Criminal liability for mis-statements in prospectus
- 35 Civil liability for mis-statements in prospectus
- 36 Punishment for fraudulently inducing persons to invest money
- 37 Action by affected persons
- 38 Punishment for personation for acquisition, etc., of securitie
- 39 Allotment of securities by company
- 40 Securities to be dealt with in stock exchanges
- 41 Global depository receipt
