Question

What is the requirement for a person to acquire or hold more than five percent of the paid-up equity share capital of a depository, as mentioned in Regulation 22 (3) of Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018?

Q: Answer-What is the requirement for a person to acquire or hold more than five percent of the paid-up equity...

As per Reg 22- 3 Any person eligible to acquire or hold more than five percent of the paid up equity share capital under sub-regulation 1 and sub-regulation 2 of regulation 21 may acquire or hold more than five percent of the paid up equity share capital of a depository only if the person has obtained prior approval of the Board.