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(SEBI) Master Circular for Depositories w.e.f. 15th December 2016

SEBI Master Circular for Depositories No. SEBI/HO/MRD/DP/CIR/P/2016/134 dated December 15, 2016

Securities and Exchange Board of India (SEBI) has been issuing various circulars/directions from time to time. In order to enable the users to have an access to all the applicable circulars/directions at one place, Master Circular for Depositories has been prepared.

This Master Circular is a compilation of the circulars/communications issued by SEBI up to March 31, 2016 and shall come into force from the date of its issue. 

This Master Circular shall supersede previous Master Circular CIR/MRD/DP/6/2015 dated May 07, 2015.

Download a copy of the said Master Circular for Depositories from SEBI site.

Table of Contents

Section - 1: Beneficial Owner (BO) Accounts

1.1 Opening of BO Account by non-body corporates
1.1.1 Proof of Identity (PoI)
1.1.2 Proof of Address (PoA)
1.1.3 Clarification on voluntary adaptation of Aadhaar based eKYC process
1.1.4 SARAL Account Opening Form for resident individuals
1.1.5 Clarifications with regard to KYC requirement for eligible Foreign Investors
1.1.6 Acceptance of third party address as correspondence address
1.2 Exemptions from and clarifications relating to mandatory requirement of PAN
1.3 Simplification of demat account opening process (DP-BO Rights and Obligation Document)
1.4 Opening of demat account in case of HUF
1.5 Operation of minor’s demat account
1.6 Facility for a Basic Services Demat Account (BSDA)
1.7 Change of Name in the Beneficial Owner (BO) Account
1.8 Fees/Charges to be paid by BO
1.9 Safeguards on transfer of securities in dematerialized mode
1.10 Delivery Instruction Slip (DIS) Issuance and Processing
1.11 Transmission of shares
1.12 SMS alerts for demat accounts operated by Power of Attorney
1.13 Exemption from sending quarterly statements of transactions by depository participants (DPs) to clients in respect of demat accounts with no transactions and no security balances
1.14 Discontinuation of sending transaction statements by depository participants to clients
1.15 Exemption to Depository Participants (DPs) from providing hard copies of transaction statements to BOs
1.16 Transfer of funds and securities from Clearing Member pool account to BO Account
1.17 Consolidated Account Statement (CAS) for all securities assets

Section - 2: Depository Participants (DP) Related
2.1 Supervision of branches of depository participants
2.2 Incentivisation to Depositories Participants (DPs)
2.3 Implementation of the Multilateral Competent Authority Agreement and Foreign Account Tax Compliance Act
2.4 Printing of Grievances Redressal Mechanism on Delivery Instruction Form Book

Section - 3: Issuer related
3.1 Charges to be paid by Issuers
3.2 Activation of International Securities Identification Number (ISIN) in case of IPOs and additional issue of shares/ securities
3.3 Registrar and Share Transfer Agents
3.4 Mandatory admission of debt instruments on both the Depositories
3.5 American Depository Receipts (ADRs)/Global Depository Receipts (GDRs)
3.6 Electronic Clearing System (ECS) facility
      3.6.1 Use of ECS for refund in public/ rights issues
      3.6.2 Usage of electronic payment modes for making cash payment to the investors
3.7 Withdrawal by issuers from the depository
3.8 Further issue of shares under Section 86 of Companies Act and Companies (Issue of Share capital with Differential Voting Rights) Rules, 2001

Section - 4: Depositories Related
4.1 Activity schedule for depositories for T+2 rolling Settlement
4.2 Settlement of transactions in case of holidays
4.3 Deadline time for accepting non pay-in related instructions
4.4 Approval of amendments to Bye Laws / Rules of Stock Exchanges and Depositories
4.5 Preservation of Records
4.6 Pledge of Shares through depository system
4.7 Foreign investments in infrastructure companies in securities markets
4.8 Designated e-mail ID for regulatory communication with SEBI
4.9 Designated e-mail ID for redressal of investor complaints
4.10 Redressal of complaints against Stock Exchanges and Depositories through SEBI Complaints Redress System (SCORES)
4.11 Limitation period for filing an arbitration reference
4.12 Disclosure of investor complaints and arbitration details on Depository website
4.13 Disclosure of regulatory orders and arbitration awards on Depository website
4.14 Establishment of connectivity by Clearing House / Clearing Corporation (CH/CC) with the Depository – Clarification
4.15 Computing and monitoring of the Aggregate Value of Portfolio of Securities (AVPS) of the BOs held in dematerialised form by Stock Broker DPs
4.16 Rajiv Gandhi Equity Savings Scheme, 2012 (RGESS)
4.17 Principles of Financial Market Infrastructures (PFMIs)
4.18 Annual System Audit of Depositories
4.19 Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR)
4.20 (Information Technology) IT Governance For Depositories
4.21 Guidelines for inspection of Depository Participants (DPs) by Depositories
4.22 Activity of Demat of warehouse receipts
4.23 Voting rights in respect of securities held in pool account
4.24 Risk Management Policy at the Depositories
4.25 Outsourcing by Depositories
4.26 Cyber Security and Cyber Resilience framework of Depositories
4.27 Database for Distinctive Number (DN) of Shares
4.28 Ticker on Website - For Investor awareness
4.29 Separate mobile number/ email id for the clients of Depository Participants (DPs)

List of Circulars & Communications

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