Stock Exchanges and Clearing Corporations (Second Amendment)

SECURITIES CONTRACTS (REGULATION) (STOCK EXCHANGES AND CLEARING CORPORATIONS) (SECOND AMENDMENT) REGULATIONS, 2023

No. SEBI/LAD-NRO/GN/2023/139.─In exercise of the powers conferred by sections 4, 8A and 31 of the Securities Contracts (Regulation) Act, 1956, read with sections 11 and 30 of the Securities and Exchange Board of India Act, 1992, the Board hereby makes the following regulations to further amend the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, namely: —

1. These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2023.
   
2. They shall come into force on the date of their publication in the Official Gazette.
   
3. In the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, —
   
   (1) in regulation 22D, after the words “the clearing members” and before the words “and issuers of the debt securities”, the words and symbol “, participants” shall be inserted.
   
   (2) in regulation 37,
   (a) in sub-regulation (2), after the words “the event of a clearing member” and before the words “failing to honour”, the words “or a participant” shall be inserted;
   (b) in sub-regulation (3), after the words “failure of clearing member(s)”, the words “or participant(s)”
   shall be inserted.

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