On 19 September 2022, SEBI vide a circular No. SEBI/HO/CFD/PoD-1/P/CIR/2022/120 (the Framework), issued a detailed framework prescribing the minimum requirements to be followed by an Not for Profit Organisation (NPO) that desires to be registered/listed on an SSE. The main themes of the Framework are depicted below:
- Registration of a Not for Profit Organisation (NPO)
- Disclosure to be provided by NPOs for raising funds through the issuance of Zero Coupon Zero Principal (ZCZP) Instruments
- Annual disclosures to be provided by an NPOs
- Disclosures forming part of the Annual Impact Report (AIR) submitted by Social Enterprises (SEs).
- The circular also prescribes the time limit for submission of statement of utilisation of funds by an NPO.
