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LearnLabz Company Secretary December 2011 Exam Revision & Updates

LearnLabz Company Secretary December 2011 Exam Revision & Updates

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Published by Only This Much
Learnlabz & OnlyThisMuch has tried to cover the crucial topics in subjects of Company Secretary Executive & Professional Program to enjoy passing
Learnlabz & OnlyThisMuch has tried to cover the crucial topics in subjects of Company Secretary Executive & Professional Program to enjoy passing

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Published by: Only This Much on Dec 13, 2011
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03/14/2012

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A MATTER OF PRESENTATION IN 3 HOURS IN EXAM HALL!!!
Click the relevant LINKS TO ENJOY PASSING December 2011 Company Secretary Exams
Click the relevant LINKS TO ENJOY PASSING December 2011 Company Secretary Exams
CS Classes & Books
 
SECURITIES LAWMutual Fund – 
1. Every close ended scheme (OTHER THAN Equity Linked Savings Scheme) shall be listed andthe units of such scheme shall not be repurchased before the end of maturity period of the scheme.2. Units of Mutual Fund Schemes (OTHER THAN Equity Linked Savings Scheme) are FREELYtransferable.3. A Mutual Fund Scheme can invest UPTO 30% of its Net Assets in Money Market Instruments of an ISSUER (Other than Government Securities, Treasury Bills & CBLO’s).4. Units of Mutual funds schemes may be permitted to be transacted through clearing members of the registered Stock Exchanges. The Depository participants of registered Depositories to processonly redemption request of units held in demat form.5. The physical verification of gold underlying the Gold ETF (Exchange Traded Fund) units shall becarried out by statutory auditors of mutual fund schemes and reported to trustees on HALFYEARLY BASIS who in turn shall report to SEBI.6. There shall be NO ENTRY LOAD for all Mutual Fund Schemes. However, UPFRONTCOMMISSION can be paid by investors to distributors for their service. Similarly, distributors mayalso have TRANSACTION CHARGE per subscription of Rs. 10,000/- and above be allowed to be paid. Mutual Funds can charge an EXIT LOAD UPTO 1%.7. Mutual Funds should provide an option to the investors to receive allotment of Mutual Fund unitsin their DEMAT account while subscribing to any scheme (open ended/close ended).8. The scheme annual reports or abridged summary would only be sent by email, if available. Onrequest, physical copies may be sent WITHOUT demur and it shall also be made available to theinvestors at their registered offices at all times. AMCs shall ensure that consolidated accountstatement (CAS) for each calendar month is issued to the investors in whose folios transactions hastaken place during that month.9. The foreign investors (termed as Qualified Foreign Investors/ QFIs) who meet KYCrequirement may invest in equity and debt schemes of Mutual Funds (MF) through the followingtwo routes SUBJECT to total ceiling of 10 billion USD for Equity Schemes & other conditions:a. DIRECT ROUTE - Holding MF units in demat account through a SEBIregistered depository participant (DP) (with 50 crores of Paid-up Capital) from aFATF country which is a signatory to IOSCO’s Memorandum and is NOT a FII or aSub-account holder. b. INDIRECT ROUTE- Holding MF units via Unit Confirmation Receipt (UCR)issued overseas with UNDERLYING as rupee denominated units of Mutual fund (aswith SEBI registered Custodian). There shall be a compliance of FATF standards,PMLA and SEBI circulars in this regard.
Infrastructure debt fund scheme”
means a [
close ende
] mutual fund scheme that invests primarily (MINIMUM 90% of scheme assets) in the debt securities or securitized debt instrument of infrastructure companies or infrastructure capital companies or infrastructure projects or special purpose vehicles (SPV) which are created for the purpose of facilitating or promoting investment ininfrastructure, and other permissible assets in accordance with these regulations or bank loans inrespect of completed and revenue generating projects of infrastructure companies or projects or SPVs.www.learnlabz.com onlythismuch@lawlabz.com 
CS Classes & Books
 
Intermediary – 
Any change in status or constitution of Intermediary by way of merger or amalgamation or demerger [ie, change in legal formation or ownership] or change in MD/WTD merely requiresintimation in half yearly reporting to SEBI. However, any change in control as per Takeover Codeor change of ATLEAST 51% of body corporate requires PRIOR APPROVAL of SEBI throughSINGLE WINDOW CLEARANCE by disclosing the FACTS of earlier rejection of application bySEBI, if any, litigation, anyother action taken under securities law or the pending investor complaints; further COMMITMENT shall be given that there will NOT be any change in directorstill the approval is granted and it shall be informed to ALL existing investors.REGISTRATION AS INTERMEDIARY – The initial registration as Intermediary with SEBI is VALID FOR 5 YEARS and shall be renewedthereafter to get a Certificate of Permanent Registration. NETWORTH FOR RTA’s – 
Registrar AND Share Transfer Agent shall be Rs. 50,00,000/-
Registrar OR Share Transfer Agent shall be Rs. 25,00,000/-ASSOCIATED PERSONS – 1. Distributors, agents or any persons employed or engaged or to be employed or engaged in thesale and/or distribution of mutual fund products shall be required to have a valid certification fromthe National Institute of Securities Markets (NISM).2. Approved users and sales personnel of the trading members who are registered as such in thecurrency derivatives segment of a recognized stock exchange and trading in interest rate derivativesshall have the Interest Rate Derivatives certification of NISM.3. Persons associated with a registered stock-broker/trading member/clearing member in recognisedstock exchanges, who are involved in, or deal with, assets/funds of investors OR redressal of investor grievances OR internal control shall have Operations & Risk Management certificationfrom NISM.
Depository Receipt’ (DR)
means a negotiable security issued outside India by a Depository bank,on behalf of an Indian company, which represent the local Rupee denominated equity shares of thecompany held as deposit by a Custodian bank in India. DRs are traded on Stock Exchanges in theUS, Singapore, Luxembourg, etc. DRs listed and traded in the US markets are known as AmericanDepository Receipts (ADRs) and those listed and traded anywhere/elsewhere are known as GlobalDepository Receipts (GDRs).SEBI (KNOW YOUR CLIENT REGISTRATION AGENCY - KRA) REGULATIONS, 2011KRA – MEANS – Company under Companies Act – deemed to be an INTERMEDIARY and thusmost of the provisions of Intermediaries will
mutadis mutandis
(as such) apply.‘KYC’means the procedure prescribed by SEBI for identifying and verifying the Proof of Address, Proof of Identity and compliance with rules, regulations, guidelines and circulars issued bySEBI or any other authority for Prevention of Money Laundering from time to time.The following persons can register as KRA with SEBI – the wholly owned subsidiary (WoS) of Stock Exchanges or Depositories or other Intermediaries or Self Regulatory Organisationsregistered with SEBI with a NETWORTH of Rs. 25 crores.www.learnlabz.com onlythismuch@lawlabz.com 
CS Classes & Books

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