SEBI (Custodian) (Amendment) Regulations, 2022.

SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI) (CUSTODIAN) (AMENDMENT) REGULATIONS, 2022

F. No. SEBI/LAD-NRO/GN/2022/81.— In exercise of the powers conferred by section 30 read with clause (ba) of sub-section (2) of section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Custodian) Regulations, 1996, namely –

1. These Regulations may be called the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2022.
   
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 (Custodian) Regulations, 1996, –
   
   I. In regulation 2, –
   
   i. in clause (e),
   
   a. after the words “gold or gold related instruments” and before the words “held by a mutual fund”, the words “or silver or silver related instruments” shall be inserted.
   b. after the words “gold or gold related instruments” and before the words “or title deeds of real estate assets”, the words “or silver or silver related instruments” shall be inserted.
   c. in sub-clauses (i) and (ii), after the words “gold or gold related instruments” and before the words “or title deeds of real estate assets”, the words “or silver or silver related instruments” shall be inserted.
   
   II. In regulation 6, in sub-regulation (1), in clause (ba), the words “gold or gold related instruments of a mutual fund” shall be substituted with the words “gold or gold related instruments or silver or silver related instruments held by a mutual fund”.
   
   III. In regulation 8, –
   
   i. in sub-regulation (3), in the proviso, the words “gold or gold related instruments of a mutual fund” shall be substituted with the words “gold or gold related instruments or silver or silver related instruments held by a mutual fund”;
   
   ii. in sub-regulation (4), the words “of a mutual fund” shall be substituted with the words “held by a mutual fund”;
   
   iii. after sub-regulation (6), the following sub-regulations shall be inserted, namely, –
   “(7) A custodian holding a certificate of registration as on the date of commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2022, may provide custodial services in respect of silver or silver related instruments held by a mutual fund only after taking prior approval of the Board.”
   
   IV. In regulation 15, in the proviso, –
   
   i. after the words “gold” and before the words “belonging to its client”, the words “or silver” shall be inserted;
   ii. after the words “gold exchange traded fund scheme” and before the symbol and words “, subject to the following conditions”, the words “or a silver exchange traded fund scheme” shall be inserted;
   iii. in clause (a), after the words “gold” and before the words “kept with such other person”, the words “or silver” shall be inserted;
   iv. in clause (b) and (c), after the words “gold” and before the words “so kept with the other person”, the words “or silver” shall be inserted;

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