Depositories and Participations (Amendment) Regulations, 2022

Securities and Exchange Board of India (Depositories and Participations) (Amendment) Regulations, 2022

No. SEBI/LAD-NRO/GN/2022/74.—In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 read with Section 25 of the Depositories Act, 1996, the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 namely:—

1. These Regulations may be called the Securities and Exchange Board of India (Depositories and Participants) (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 (Depositories and Participants) Regulations, 2018-
   
   I. in regulation 35, in clause (a), in sub-clause (viii), the first, second and third provisos shall be substituted with the following, namely, –
   “Provided that the stock broker shall have a networth of rupees three crores {within one year of the date of notification of the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2022}, which shall be increased to rupees five crores {within two years of the date of notification of the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2022}:
   Provided further that a self-clearing member fulfilling the networth requirements as provided under the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992 shall also be eligible to register as a depository participant.”

Footnote:

1. The Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 were published in the Gazette of India on October 3, 2018 vide No. No. SEBI/LADNRO/GN/2018/40.
   
2. The Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 were subsequently amended–
   
   a. June 4, 2019, by The Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2019, vide No. SEBI/LAD-NRO/GN/2019/20.
   b. February 21, 2020, by the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2020, vide No. SEBI/LAD-NRO/GN/2020/04.
   c. April 17, 2020, by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020, vide No. SEBI/LAD-NRO/GN/2020/10.
   d. May 05, 2021, by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations 2021, vide No. SEBI/LAD-NRO/GN/2021/23.
   e. August 03, 2021, by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2021, vide No. SEBI/LAD-NRO/GN/2021/30.
   f. August 13, 2021 by the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2021, vide No. SEBI/LAD-NRO/GN/2021/43.
   g. October 26, 2021, by the Securities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 2021, vide No. SEBI/LADNRO/GN/2021/53.
   h. December 31, 2021, by the Securities and Exchange Board of India (Vault Managers) Regulations, 2021, vide No. SEBI/LAD-NRO/GN/2021/61.

Notification

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