11. (1) An issuer of a listed security shall furnish to the Stock Exchange, to the security holders and to the Commission an annual report of its affairs and such statements and other reports as may be prescribed.
(2) Without prejudice to the provisions of sub-section (1), an issuer of a listed security shall furnish to the Commission such other documents, information or explanation relating to its affairs as the Commission may, at any time, by order in writing, require.
Submission of statements of beneficial owners of listed equity securities
12. Every director or officer of an issuer who is or has been the beneficial owner of any class of its listed equity securities and every person who is directly or indirectly the beneficial owner of more than ten per cent of any class of such securities shall submit to the Commission such returns pertaining to the beneficial ownership of such securities in such form and at such times or at such intervals as may be prescribed.
Prohibition of short-selling
13. No director or officer of an issuer of a listed equity security and no person who is directly or indirectly the beneficial owner of not less than ten per cent of such securities shall practise directly or indirectly short-selling such securities.
Trading by directors, officers and principal share-holders
14. (1) Where any director or officer of an issuer of a listed equity security or any person who is directly or indirectly the beneficial owner of not less than ten per cent of such securities makes any gain by the purchase and sale, or the sale and purchase, of any such security within a period of less than six months, such director or officer or beneficial owner shall make a report and tender the amount of such gain to the issuer:
Provided that nothing in this sub-section shall apply to a security acquired in good faith in satisfaction of a debt previously contracted.
(2) Where a director, officer or beneficial owner fails or neglects to tender, or the issuer fails to recover, any such gain as is mentioned in sub-section (1) within a period of six months after its accrual, or within sixty days of a demand therefore, whichever is later, such gain shall vest in the Commission which may recover the same as an arrear of land revenue.
Regulation of proxies
15. Notwithstanding anything contained in the Companies Act, 1913 or in the Memorandum or Articles of Association of the issuer of a listed security, the Commission may regulate the solicitation of any proxy, consent or authorisation pertaining to the securities of such issuer in such manner as may be prescribed.
