Unit study guide · NISM Series III-A
SEBI (Registrar to an Issue and Share Transfer Agents) Regulations, 1993
4 questions in this unit
What this unit covers
- Which issue intermediary primarily processes application records and supports the allotment administration process?
- Which role primarily maintains and processes an issuer’s security-holder records and related transfer requests?
- A registrar is an associate of a corporate issuer under the applicable definition. May it act as registrar for that issuer’s securities issue?
- A registrar’s management denies its compliance officer access needed to examine a breach. Which code requirement is undermined?
Key ideas
From the practice bank · 1
Which issue intermediary primarily processes application records and supports the allotment administration process?
The registrar to the issue processes relevant application records and performs allotment-related administrative work. Remember: The registrar’s role centres on reliable issue and investor records.
Hint Common mistake: Confusing application administration with investment advice. Match the issue’s application data and allotment work to the relevant service provider.
III-A-126From the practice bank · 2
Which role primarily maintains and processes an issuer’s security-holder records and related transfer requests?
A share transfer agent performs the relevant security-holder record and transfer-processing functions for the issuer. Remember: A transfer agent’s administrative role differs from custody, trading and research roles.
Hint Common mistake: Assuming every intermediary that handles securities maintains the issuer’s register. Focus on ongoing holder records rather than research or financing commitments.
III-A-127From the practice bank · 3
A registrar is an associate of a corporate issuer under the applicable definition. May it act as registrar for that issuer’s securities issue?
The registrar may not act for the associate issuer because regulation 16 imposes that restriction. Remember: Some conflicts require avoiding the appointment rather than adding a disclaimer.
Hint Common mistake: Assuming every conflict can be resolved through disclosure alone. Distinguish an explicit appointment prohibition from a conflict that can merely be disclosed.
III-A-128From the practice bank · 4
A registrar’s management denies its compliance officer access needed to examine a breach. Which code requirement is undermined?
The code requires adequate freedom and powers so the compliance officer can discharge the duties effectively. Remember: The compliance officer must have practical authority and access, not merely a title.
Hint Common mistake: Appointing an officer without giving the role usable powers. Consider whether the officer has the practical ability to perform the role.
III-A-129