- SEBI, vide its circular dated November 25, 2022 extended timelines for implementation of following SEBI Circulars:
- SEBI had issued circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137 dated October 06, 2022 on “Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities – Clarification”. The provisions of the same were to come into effect from November 18, 2022.
- SEBI had issued circular SEBI/HO/MIRSD/DoP/P/CIR/2022/119 dated September 19, 2022 on “Validation of Instructions for Pay-In of Securities from Client demat account to Trading Member (TM) Pool Account against obligations received from the Clearing Corporations”. The provisions of the same were to come into effect from November 25, 2022.
- In this regard, based on representation from depositories and further consultations, it has been decided that:
- The provisions of the circular SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137 dated October 06, 2022 shall come into effect on or before January 20, 2023.
- The provisions of the circular SEBI/HO/MIRSD/DoP/P/CIR/2022/119 dated September 19, 2022 shall come into effect from January 27, 2023.
- The provisions of the respective circulars stand modified to this extent and is applicable to all Depositories, recognized Stock Exchanges and Clearing Corporations.
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