Securities And Exchange Board Of India (Depositories And Participants) (Second Amendment) Regulations, 1998. - S.O. No.76(E) - SEBI/LE/2352/98 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 21st January, 1998 S.O. 76(E).- In exercise of the powers conferred by sub-section (i) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996. 1. These Regulations may be called the Securities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 1998. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1966 (hereinafter referred to as the regulations )- (a) in sub-regulations (b) of regulations 28, after the words money market instruments and before the words and unlisted securities , the following words shall be added, namely :- Government Securities (b) in regulation 29, a new proviso after the existing proviso shall be added, namely :- Provided further that no such agreement shall be required to be entered into where the State or the Central Government is the issuer of Government securities. (c) in regulation 53, a proviso shall be added, namely :- Provided that no agreement shall be required to be entered into in case:- (i) the depository is the issuer of securities; or (ii) the State or the Central Government is the issuer of Government securities. (d) in regulation 55, a proviso shall be added, namely :- Provided that where the State or the Central Government is the issuer of Government securities, the depository shall, on a daily basis, reconcile the records of the dematerialised securities, (e) in regulation 57, a proviso shall be added, namely :- Provided that no such information would be required to be given to the depository where the State or the Central Government is the issuer of Government securities. (f) after clause (2) of regulation 63, a new regulation, 63 A shall be added, namely :- 63 A. Nothing contained in this chapter shall be applicable to the State or the Central Government where it is the issuer of the Government securities. [F. No. SEBI/LE/2352/98] D.R. MEHTA, Chairman Footnote :- (1) SEBI (Depositories and Participants) Regulation, 1996 the principal regulation, was published in the Gazette of India on May 16, 1996, vide S.O. No. 345(E). (2) SEBI (Depositories and Participants) Regulations, 1906 was further amended by the SEBI (Depositories and Participants) Amendment Regulations, 1997 which was published in the Gazette of India on February 7, 1997, vide S.O. No. 91 (E). (3) SEBI (Depositories and Participants) Regulations, 1996 was further amended by the SEBI (Depositories and Participants) (Second Amendment) Regulations, 1997 which was published in the Gazette of India on September 5, 1997, vide S.O. No. 640(E). (4) SEBI (Depositories and Participants) Regulations, 1996 was further amended by the SEBI (Depositories and Participants) Amendment Regulations, 1998 which was published in the Gazette of India on January 5, 1998, vide S.O. No. 18(E).