CHAPTER 36 / 55 · Paid
SEC-4.4 Reporting Issuer.
A registration under Securities Act section 86, not an activity licence.
Approx. 12 min with exercisesLaw cut-off: 20 September 2026Our approach
By the end of this chapter
- Describe the shop in one paragraph from the first file on the desk.
- Decide the promoter’s next asks: which stay on this letter, which need another paper.
- Keep neighbouring permissions off this desk.
- Cite the enabling section and treat the licence letter as the book.
FSC · SEC-4.4 · Registration
1. PublicCo’s shop
PublicCo is the desk this chapter is for. Registration as a reporting issuer with disclosure obligations.
The first file on the desk is this. PublicCo already has listed shares and will make a further public issue. SEC-4.4 registration and ongoing disclosure. Listing remains the exchange’s process.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a registration under Securities Act 2005, Section 86, with Rule 3 of the Securities (Disclosure Obligations of Reporting Issuer) Rules 2007. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not an investment dealer, not a CIS, and not a listing by itself (listing rules of an exchange are additional).
Third, the assumptions stay in the file. Fictional issuer. Cut-off 20 September 2026.
Securities Act 2005, Section 86, with Rule 3 of the Securities (Disclosure Obligations of Reporting Issuer) Rules 2007. See the register note · Open the published text ↗.
2. A week with A listed company that issues more shares
Monday. The promoter walks in with “A listed company that issues more shares.” Write the facts before anyone names a code: PublicCo already has listed shares and will make a further public issue.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Registration as a reporting issuer with disclosure obligations.
Wednesday. They record what this permission is used for. SEC-4.4 registration and ongoing disclosure. Listing remains the exchange’s process.
Thursday. They write what the letter does not cover. Registration is not a dealer licence for the company secretary.
Friday. They lock the assumptions. Fictional issuer. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what SEC-4.4 is used for. The Act matters when PublicCo applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A listed company that issues more shares
PublicCo already has listed shares and will make a further public issue.
Why it fits. SEC-4.4 registration and ongoing disclosure. Listing remains the exchange’s process.
Different paper
The same promoter asks for an investment dealer
The slide says the SEC-4.4 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Registration is not a dealer licence for the company secretary.
Different paper
The same promoter asks for CIS
The slide says the SEC-4.4 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Registration is not a dealer licence for the company secretary.
| The promoter asks PublicCo to… | This licence? | Why |
|---|---|---|
| A listed company that issues more shares | Yes | SEC-4.4 registration and ongoing disclosure. Listing remains the exchange’s process. |
| The same promoter asks for an investment dealer | No | Keep the neighbouring paper off this desk. Registration is not a dealer licence for the company secretary. |
| The same promoter asks for CIS | No | Keep the neighbouring paper off this desk. Registration is not a dealer licence for the company secretary. |
4. Papers that sit beside this one
Not an investment dealer, not a CIS, and not a listing by itself (listing rules of an exchange are additional). Name the other desk when the work changes: an investment dealer; a CIS; a listing by itself (listing rules of an exchange are additional).
- an investment dealer
- a CIS
- a listing by itself (listing rules of an exchange are additional)
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The issuer of securities that meets the reporting-issuer tests. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing Rs 13,500. Status at cut-off: Published reporting-issuer category as at 1 July 2026.
Who may hold it. The issuer of securities that meets the reporting-issuer tests. Officers of the issuer are not thereby dealers.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Directory points to PDF/Excel forms and a criteria PDF. Disclosure Rules 2007 rule 3 is cited on the row.
Rules, codes and circulars. Disclosure obligations live in the 2007 Rules, not in a dealer circular.
6. How to cite SEC-4.4
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | SEC-4.4 Reporting Issuer |
| Legal nature | Registration |
| Enabling law | Securities Act 2005 · Section 86, with Rule 3 of the Securities (Disclosure Obligations of Reporting Issuer) Rules 2007 |
| Fees as at 1 July 2026 | Processing Rs 13,500. No fixed annual fee is printed on the 1 July 2026 row. |
| Status at cut-off | Published reporting-issuer category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open SEC-4.4 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteSecurities Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
PAUSE & REFLECT
Check your understanding.
Three questions to make the ideas stick. Your score is saved on this browser; this is a learning exercise, not a qualification.
Follow the sources.
Each title opens the published text. The register note records the edition used for this course.
- FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗ All published category codes, fees, forms and licensing-criteria columns; consolidation as at 1 July 2026 · Register note
- Financial Services Act 2007 ↗ Sections 2, 14, 14A, 16–18, 25, 33, 71A, 72, 77, 77A, 77B, 77C, 78, 79A; Second Schedule Parts I–III; Fifth Schedule · Register note
- FSC licensing and fees amendment rules 2026 ↗ Rule 3 and replacement First Schedule; rule 4 commencement · Register note
- FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗ 1 July 2026 fee review; annual-fee due date 30 September 2026; FSCOne alternative arrangements · Register note
- FSC rules and regulations directory ↗ Consolidated licensing and fees rules; sector-specific rules including Securities (Licensing) Rules and Family Office Rules · Register note
- Securities Act 2005 ↗ Sections 9–11, 29–30, 53, 86, 97–101, 155(2)(xc) · Register note
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