SEBI vide its Circular dated 7th February, 2023 received representation from the market participants, wherein they have informed that upgradation of the electronic filing portal (Version-3) of MCA for submission of various forms including forms necessary for incorporation of companies is still under the process of stabilisation and they continue to face technical difficulties in e-filing of such forms.
SEBI extended the timeline by three weeks for entities, operating as online bond platform providers, to make an application for registration as stock brokers. The extension has been given keeping in view the technical difficulties faced by these entities.
Further, it has been decided to grant an additional time period of three weeks commencing from 9th February, 2023 (the end of three months from 9th November, 2022) for making an application to obtain a certificate of registration as a stock broker under the Sebi (stock brokers) regulations, 1992. Therefore, the application for registration by online bond platform providers (OBPPs) as stock brokers would be made by 1st March, 2023.
SEBI vide Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2022/154 dated November 14, 2022 on ‘Registration and regulatory framework for Online Bond Platform Providers’ requires entities desirous of operating as OBPPs to be companies incorporated in India and they should register themselves as stock brokers in the debt segment of the stock exchange.
This Circular is applicable to Entities operating/ desirous of operating as online bond platform providers; Issuers who have listed and/ or propose to list debt Securities; Recognised Stock Exchanges and Clearing Corporations; Registered Depositories; Stock Brokers and Depository Participants and shall come into force with immediate effect.
About the Author
