Regulation 35B - Wind-down Plan. - Securities And Exchange Board of India (Depositories And Participants) Regulations, 1996

1 [Wind-down Plan. 35B. Every depository shall devise and maintain a wind-down plan in accordance with guidelines specified by the Board. Explanation:- For the purpose of this regulation, 'wind-down plan' means a process or plan of action employed, for transfer of the beneficial owner accounts and other 2 operational powers of the depository to an alternative institution that would take over the operations of the depository in scenarios such as erosion of net-worth of the depository or its insolvency or its inability to provide critical depository operations or services.] ********** 1 Inserted by the SEBI (Depositories and Participants) (Third Amendment) Regulations, 2016 w.e.f. from 27-05-2016.