Regulation 20 - Cessation of Index - Securities and Exchange Board of India (Index Providers) Regulations, 2024

Cessation of Index 20. (1) An Index Provider shall formulate policies and procedures to address the need for possible cessation of an Index taking into account the estimated impact on Market Participants and Subscribers. (2) The Index Provider shall provide reasonable notice and intimate in advance the subscribers about the cessation of an Index. (3) Wherever reasonably practical and if required by the subscriber for the Index that is to be discontinued completely, the Index Provider shall maintain the Index for a reasonable period of time and if feasible, shall also provide an alternative Index within a reasonable timeframe: Provided that the subscribers registered with the Board and tracking the Indices of existing Index Providers who administer Significant Indices, but who are not desirous of seeking registration with the Board or who intend to cease publication of an index or benchmark, shall shift to a new benchmark offered by a registered Index Provider or cease to track the Indices and take all necessary and consequential steps in this regard within a time period of three months of notice of such intent of cessation.