Pursuant to the SEBI Circular, SEBI notified certain amendments to be made by the Depositories to align the provisions of the SEBI (Depositories and Participants) Regulations, 2018 (“D&P Regulations, 2018”) with that of Master Circular for Depositories dated October 25, 2019.
The following amendments are provided for in the SEBI Circular:
- SEBI circular MRD/DoP/DEP/Cir-20/2009 dated 9 December 2009 on preservation of records is modified as
“Depositories and Depository Participants are required to preserve the records and documents for a minimum period of 8 years in terms of regulations 38 and 49 of the SEBI (D&P)Regulations, 1996.”
- In Regulations 54 and 66 of the SEBI (D&P) Regulations, 2018 notified on 3 October 2018, Depositories and Depository Participants are required to preserve the records and documents for a minimum period of 8 years.
- Other provisions of the Master Circular for Depositories SEBI/HO/MRD/DP/CIR/P/118 dated 25 October 2019 remain unchanged.
- Para 2 of SEBI circular MRD/DoP/DEP/Cir-20/2009 dated December 9, 2009 is partially modified as,
“Depositories and Depository Participants are required to preserve the records and documents for a minimum period of 8 years”.
- The other provisions of SEBI circular MRD/DoP/DEP/Cir-20/2009 dated 9 December 2009 remain unchanged
The circular can be accessed here.
