Master Circular for Commodity Derivatives Segment - SEBI - SEBI/HO/MRD/MRD-PoD-1/P/CIR/2023/136

MASTER CIRCULAR FOR COMMODITY DERIVATIVES SEGMENT SEBI/HO/MRD/MRD-PoD-1/P/CIR/2023/136 August 04,2023 The Managing Directors/Chief Executive Officers All Stock Exchanges and Clearing Corporations with Commodity Derivatives Segment Dear Sir / Madam, Sub: Master Circular for Commodity Derivatives Segment 1. In order to ensure availability of comprehensive information mentioned in various circulars pertaining to commodity derivatives market or segment at one place, the Securities and Exchange Board of India ( SEBI ) has been issuing Master Circulars. This Master Circular has covered various circulars issued till March 31, 2023. The references in this circular to the Statutes/Regulations which now stand repealed have been suitably updated. 2. The terms National Commodity Derivatives Exchanges or Regional Commodity Derivatives Exchanges or Commodity Derivatives Exchanges may be read as stock exchanges and stock exchange(s) shall mean recognized stock exchange(s) having commodity derivatives segment. 3. This Master Circular shall come into force from the date of its issuance. The Circulars mentioned in Annexure ZG of this Master Circular shall stand rescinded with the issuance of this Master Circular, including Master Circular SEBI/HO/CDMRD/DMP/P/CIR/2022/64 dated May 17, 2022. With respect to the directions or other guidance issued by SEBI, as specifically applicable to National Commodity Derivative Exchanges, the same shall continue to remain in force in addition to the provisions of any other law for the time being in force. 4. Notwithstanding such rescission, 4.1. anything done or any action taken or purported to have been done or taken under the rescinded circulars, including registrations or approvals granted fees collected, registration suspended or cancelled, any inspection or investigation or enquiry or adjudication commenced or show-cause notice issued prior to such rescission, shall be deemed to have been done or taken under the corresponding provisions of this Master Circular, 4.2. any application made to SEBI under the rescinded circulars, prior to such rescission, and pending before it shall be deemed to have been made under the corresponding provisions of this Master Circular 4.3. the previous operation of the rescinded circulars or anything duly done or suffered thereunder, any right, privilege, obligation or liability acquired, accrued or incurred under the rescinded circulars, any penalty, incurred in respect of any violation committed against the rescinded circulars, or any investigation, legal proceeding or remedy in respect of any such right, privilege, obligation, liability, penalty as aforesaid, shall remain unaffected as if the rescinded circulars have never been rescinded. 5. This Master Circular is issued in exercise of the powers conferred by Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interest of investors in securities and to promote the development of, and to regulate, the securities market and shall come into force from the date of its issue. All Stock Exchanges and Clearing Corporations with Commodity Derivatives Segment shall ensure compliance with this Master Circular including any subsequent amendment thereto or supersession through any circular/ master circular. 6. This Master Circular is issued with the approval of the Competent Authority. 7. This Master Circular is available on SEBI Website at www.sebi.gov.in under the category Legal Master Circulars and Info for Commodity Derivatives. Yours faithfully, Naveen Sharma General Manager Policy and Development (POD) -1 (Commodity) Market Regulation Department Email: [email protected]