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SEBI (Depositories & Participants) (2nd Amendment) Regulations 2017 - Notified

Securities Laws (Country: India)

Securities and Exchange Board of India vide Notification No. SEBI/LAD-NRO/GN/2017-18/013 dated 25th July, 2017 has notified the Securities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 2017, which is as under:

In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with Section 25 of the Depositories Act, 1996 (22 of 1996), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996, namely:—

1. These Regulations may be called the Securities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 2017.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996, in Regulation 58, for sub-regulation (3), the following shall be substituted-
“(3) Within fifteen days of receipt of the application, the depository shall after concurrence of the pledgee through its participant, create and record the pledge and send an intimation of the same to the participants of the pledger and the pledgee.”

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