Regulation 91F. Statement of utilisation of funds
Effective date 25.07.2022
91F. (1) A listed Not for Profit Organization shall submit to the Social Stock Exchange(s) the following in respect of utilisation of the funds raised, on a quarterly basis:-
(a) category-wise amount of monies raised;
(b) category-wise amount of monies utilised;
(c) balance amount remaining unutilised.
(2) The unutilised amount shall be kept in a separate bank account and shall not be co-mingled with other funds.
(3) The statement required under sub-regulation (1) shall be given till the time the issue proceeds have been fully utilised or the purpose for which they were raised, has been achieved.
Inserted vide the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) (Fifth Amendment) Regulations, 2022 dated 25.07.2022. To view the Notification, Click Here
Refer SEBI Circular dated 19.09.2022 regarding framework on Social Stock Exchange. To view the Circular, Click here.