Withdrawal of restriction on Securities Lending Scheme, 1997 - SEBI - SMDRP/POLICY /CIR -36 /2001

Circulars SECURITIES AND EXCHANGE BOARD OF INDIA SECONDARY MARKET DEPARTMENT Mittal Court, B Wing, First Floor, 224, Nariman Point, Mumbai 400 021 SMDRP/POLICY /CIR -36 /2001 June 26, 2001 Managing Directors/Executive Directors/COO All Intermediaries under Securities Lending scheme-1997 Dear Sir/Madam, SUB: Withdrawal of restriction on Securities Lending Scheme, 1997 Vide circular no. SMDRP/POLICY /CIR-18/2001 dated March 13, 2001, it was advised that the Securities Lending Scheme, 1997 would be applicable only to the transactions under the ALBM BLESS facilities of NSE BSE respectively and the securities that were borrowed already under the scheme other than under ALBM BLESS were to be returned to the approved intermediaries latest by the close business of March 15, 2001. With the introduction of rolling settlement in 414 scrips from July 2, 2001 and the fact that all deferral products such as ALBM/BLESS/MCFS/CNS will no longer be available, it has been decided to withdraw the restrictions mentioned in the aforesaid circular on the Securities Lending Scheme, 1997 w.e.f. July 2, 2001. Yours faithfully, S.V. MURALIDHAR RAO Dy. General Manager Secondary Market Department email: [email protected]