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Whatever the reasona public company needs to file an SEC Form 15 if they no longer wish to be public, or if they are no longer able to meet reporting obligations. This is a common occurrence in my experience, and is one that is only becoming more common since Regulation-A filings became all the rage a few years ago.
Why would a company file a Form 15?
SEC Form 15 notifies the SEC that the company filing it does not intend to continue to file the various forms that are required in order to maintain its listing as a public company. The reporting requirements are detailed in the Securities Exchange Act of 1934.
What is section 15 of the Securities Act?
Two federal control person provisions exist: Section 15 of the Securities Act (15 U.S.C. 77o) and Section 20(a) of the Exchange Act (15 U.S.C. 78t). Both sections provide that a person who controls another person shall be held liable to the same extent as the controlled person is liable.
What is the difference between delisting and deregistration?
While delisting is often a streamlined process, deregistration is more technical and is not immediate. Companies seeking to deregister will generally need to wait until 90 days after effectiveness of the delisting.
What is form 15f?
CERTIFICATION OF A FOREIGN PRIVATE ISSUERS TERMINATION OF. REGISTRATION OF A CLASS OF SECURITIES UNDER SECTION 12(g) OF THE. SECURITIES EXCHANGE ACT OF 1934 OR ITS TERMINATION OF THE DUTY TO. FILE REPORTS UNDER SECTION 13(a) OR SECTION 15(d) OF THE SECURITIES.
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Form 15G and Form 15H are self-declaration forms that a taxpayer submits to the bank requesting not to deduct TDS on interest income as their income is below the basic exemption limit.
What is the effect of filing form 15?
By filing Form 15, a company can effectively suspend its reporting obligations and cease filing annual, quarterly, and current reports with the SEC. This form is often used by companies that have fewer than 300 shareholders of record and no longer have publicly traded securities.
How do I get Form 15?
Form 15G can be easily found and downloaded for free from the websites of all major banks in India, as well as the official EPFO portal. Additionally, this form can be easily downloaded from the Income Tax Department website. Moreover, you can submit form 15G online on the websites of most major banks in India.
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