Regulation 44A - Orderly Winding Down - Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018

1 [ Orderly Winding Down 44A (1) Every clearing corporation shall devise and maintain a framework for orderly winding down of its critical operations and services covering both voluntary and involuntary scenarios. (2) Every clearing corporation shall ensure that the framework provides for:- a. the timely and orderly settlement or cessation or transfer of position(s), and/ or; b. the transfer of the collateral(s) or deposit(s) or margin(s) or any other asset(s) of the members to another recognized clearing corporation that would take over the operations of the clearing corporation, and/or; c. such other related matter. (3) The framework referred to in sub-regulation (1) above, shall be in accordance with the guidelines specified by the Board in this regard from time to time. ] *************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/104 dated 15-11-2022