alleryStart learning →Who must make a policy on legitimate purposes under Regulation 3(2A)?
AThe SEBI board
BListed company board
CThe stock exchange
DThe company registrar
Answer & Solution
Correct answer: B. Listed company board
Regulation 3(2A) makes the board of directors of a listed company frame a legitimate purposes policy within its Codes of Fair Disclosure and Conduct.
Keep practising SEBI Takeover and Insider Trading Regulations
Browse all SEBI Takeover and Insider Trading Regulations questions for CA Final, or explore more Law topics.
Related questions
Contravention of the Insider Trading Regulations is dealt with by whom?A pre-cleared trade must be executed within how many trading days at most?The fair disclosure principles call for designating which senior officer?Which Schedule sets out the principles of fair disclosure for the code of practices?The audit committee reviews insider trading compliance at least how often?Designated persons include the CEO and employees up to how many levels below?The company must maintain trading disclosures for a minimum of how long?A listed company may seek disclosures from other connected persons at whose option?