9911796707
TMI BlogSecurities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... changes and Clearing Corporations) Regulations, 2018, namely:- 1. These Regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2022. 2. They shall come into force on date of their publication in the Official Gazette. 3. In the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018,- I. Regulation 22C shall be substituted with the following regulation, namely,- "22C. (1) The governing board of a recognized limited purpose clearing corporation shall include: (a) nominee directors; (b) independent directors; (c) managing director; and (d) such other directors as may be specified by the Reserve Bank of India or th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th the Reserve Bank of India. 22H. In case the limited purpose clearing corporation is required to obtain the prior approval of the Board and the Reserve Bank of India, the limited purpose clearing corporation shall obtain the prior approval of the Board before seeking approval from the Reserve Bank of India." IV. in regulation 23, i. in clause (c) of sub-regulation (1), the symbol "." shall be substituted with the symbol ":" ii. after clause (c) of sub-regulation (1), the following proviso shall be inserted, namely, - "Provided that for the purpose of limited purpose clearing corporation, the nominee director shall be treated as a shareholder director and the independent director shall be treated as a public interest director." ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Corporations) Regulations, 2018 were published in the Gazette of India on 3rd October 2018 vide No. SEBI/LAD-NRO/GN/2018/41. 2. The Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 were subsequently amended on- (a) 4th June, 2019, by the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2019 vide No. SEBI/LAD-NRO/GN/2019/21. (b) 17th April, 2020, by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020vide No. SEBI/LAD-NRO/GN/2020/10. (c) 8th October, 2020, by the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2020 vide No. SEBI/LADNRO/ GN/2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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