Government notifies SEBI on regulation amendments

Government notifies SEBI on regulation amendments

It is effective from 24 March 2022

The Central government has notified the Securities and Exchange Board of India (SEBI), whereby the Board has amended certain regulations in SEBI's (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The notification read that in Schedule II, Part E, after clause C, the amendment is - the listed entity may appoint separate persons to the post of the Chairperson and the Managing Director or the Chief Executive Officer. The Chairperson shall be a non-executive director, and not related to the Managing Director or the Chief Executive Officer as per the definition of the term 'relative' defined under the Companies Act, 2013.