Article 8 - Obligations - Depository Receipts Scheme, 2014

8. Obligations 1. The domestic custodian shall: (a) ensure that the relevant provisions of the Scheme related to the issue and cancellation of depository receipts is complied with; (b) maintain records in respect of, and report to, Indian depositories all transactions in the nature of issue and cancellation of depository receipts for the purpose of monitoring limits under the Foreign Exchange Management Act, 1999 ; (c) provide the information and data as may be called upon by SEBI, the Reserve Bank of India, Ministry of Finance, Ministry of Corporate Affairs and any other authority of law; and (d) file with SEBI a copy of the document, by whatever name called, which sets the terms of issue of depository receipts issued on the back of securities, as defined under section 2(h) of the Securities Contracts (Regulation) Act, 1956, in a permissible jurisdiction. Explanation: This obligation under sub-paragraph 1d is in respect of securities, and not permissible securities. 2. Indian depositories shall coordinate among themselves and disseminate: a. the outstanding permissible securities against which the depository receipts are outstanding; and, b. the limit up to which permissible securities can be converted to depository receipts. 3. A person issuing or transferring permissible securities to a foreign depository for the purpose of issue of depository receipts shall comply with relevant provisions of the Indian law, including the Scheme, related to the issue and cancellation of depository receipts.