Securities And Exchange Board Of India - Subsection
Section 7(2) in Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015
(2)Continual Disclosures.(a)Every promoter, [member of the promoter group] [Inserted by Notification No. SEBI/LAD-NRO/GN/2019/02, dated 21.1.2019 (w.e.f. 15.1.2015).] [designated person] [Substituted 'employee' by Notification No. SEBI/LAD-NRO/GN/2018/59, dated 31.12.2018 (w.e.f. 15.1.2015).] and director of every company shall disclose to the company the number of such securities acquired or disposed of within two trading days of such transaction if the value of the securities traded, whether in one transaction or a series of transactions over any calendar quarter, aggregates to a traded value in excess of ten lakh rupees or such other value as may be specified;(b)Every company shall notify the particulars of such trading to the stock exchange on which the securities are listed within two trading days of receipt of the disclosure or from becoming aware of such information.Explanation. - It is clarified for the avoidance of doubts that the disclosure of the incremental transactions after any disclosure under this sub-regulation, shall be made when the transactions effected after the prior disclosure cross the threshold specified in clause (a) of sub-regulation (2)Disclosures by other connected persons.
