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Rule 9: Non applicability of certain provisions of the Act · Complied AI

Chapter 5
Rule 9

Rule 9Chapter 5

Non applicability of certain provisions of the Act

(1)

The provisions of the Act and any rules issued thereunder insofar as they relate to public issue of shares or debentures shall not apply to issue of depository receipts abroad .

(2)

The offer document, by whatever name called and if prepared for the issue of depository receipts, shall not be treated as a prospectus or an offer document within the meaning of this Act and all the provisions as applicable to a prospectus or an offer document shall not apply to a depository receipts offer document.

(3)

Notwithstanding anything contained under section 88 of the Act, until the redemption of depository receipts, the name of the overseas depository bank shall be entered in the Register of Members of the company.

Notes, amendments & references (1)

Omitted vide Companies (Issue of Global Depository Receipts) Amendment Rules, 2020 dated 13.02.2020. To view the notification, Click Here

Rule 8 Rule 9 Rule 1