SEBI has introduced changes to Regulation 42 of the SEBI (LODR) Regulations, 2015, impacting listed entities.

Key points are as follows:

1. Minimum Gap for Corporate Actions: Listed entities must ensure a minimum gap of at least three working days between the date of board/shareholder approval (as applicable) and the Record Date fixed for corporate actions specified in Regulation 42(1). The gap calculation excludes both the date of approval and the Record Date.
2. Omission of Sub-Regulation 5: Sub-Regulation 5 of Regulation 42 has been omitted. Consequently, listed entities are no longer required to announce the dates for the closure of their transfer books (Book Closure) for any purpose.

These changes aim to streamline compliance requirements for listed entities and ensure clarity regarding timelines for corporate actions. Listed entities are advised to incorporate these amendments into their operational procedures and comply with the updated regulations.