SEBI vide a circular dated May 25, 2023 (available here) ("Circular"), has notified the following:
- SEBI has prescribed a format for a model tripartite agreement to be executed by a listed company, in the event of change of the Share Transfer Agent ("STA").
- The said agreement would be executed between the existing STA, the new STA and the listed company, as required under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The model tripartite agreement sets out the responsibilities of the listed company, the existing STA, and the new STA, along with a checklist of records, data and documents to be handed over by the existing STA to new STA.
- STAs and listed companies are required to publish the format of the tripartite agreement on their respective websites.
- STAs are required to submit proof of compliance with the Circular to SEBI via email by June 1, 2023, along with a link to their website containing the format of the said agreement.
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