Section 19A(3) in Securities Contracts (Regulation) Rules, 1957
(3)[ Notwithstanding anything contained in this rule, every listed public sector company shall maintain public shareholding of at least ten per cent.:Provided that a listed public sector company-(a)which has public shareholding below ten per cent, on the date of commencement of the Securities Contracts (Regulation) (Second Amendment) Rules, 2010 shall increase its public shareholding to at least ten per cent, in the manner specified by the Securities and Exchange Board of India, within a period of three years from the date of such commencement;(b)whose public shareholding reduces below ten per cent, after the date of commencement of the Securities Contracts (Regulation) (Second Amendment) Rules, 2010 shall increase its public shareholding to at least ten per cent, in the manner specified by the Securities and Exchange Board of India, within a period of twelve months from the date of such reduction.]
