Regulation 18 - Creation of Electronic Gold Receipt - Securities and Exchange Board of India (Vault Managers) Regulations, 2021

Creation of Electronic Gold Receipt 18. (1) Every Vault Manager registered with the Board shall have common interface with the depository for creation and extinguishment of Electronic Gold Receipt. (2) The Vault Manager shall have authorized persons for creation of Electronic Gold Receipts. (3) Upon acceptance of the gold from the depositor, the Vault Manager shall create an Electronic Gold Receipt in the name of such depositor as beneficial owner by entering the following details in the common interface: (a) Account details of Beneficial Owner maintained with the Depository; (b) Details of Depository Participant; (c) Name of the Depository having account of Beneficial Owner; (d) Name and address of the beneficial owner; (e) PAN number of the Beneficial Owner; (f) Registration number of the Vault Manager and date up to which such registration is valid; (g) Name of the vault and its complete postal address; (h) Date of creation of Electronic Gold Receipt; (i) Rates of storage charges and other related charges, if any; (j) Description of the gold bars including particulars of quantity, weight and purity; (k) Bar numbers; (l) Purity Certificate; (m) Name of the refiner; and (n) Any other particulars as may be specified by the Board. (4) The Electronic Gold Receipt shall contain the following: (a) Electronic Gold Receipt number; (b) Name and address of the beneficial owner; (c) Registration number of the Vault Manager and date up to which such registration is valid; (d) Name of the vault and its complete postal address; (e) Date of creation of Electronic Gold Receipt; (f) Rates of storage charges and other related charges, if any; (g) Description of the gold bars including particulars of quantity, weight and purity; (h) Signature of the Vault Manager or his authorized agent; and (i) Any other particulars as may be specified by the Board. (5) Upon creation of Electronic Gold Receipt, the depository shall credit the demat account of the beneficial owner with such Electronic Gold Receipts. (6) The Vault Manager shall ensure that the information captured at the time of creation of Electronic Gold Receipt is accurate.