SEBI vide its Circular dated 27 th March 2023 issued for All Recognized Stock Exchanges, Depositories and Clearing Corporations.
The circular states:
SEBI issued a circular regarding the Amendment to Securities Lending Scheme, 1997.
The following has been Amendment: Point 7 in Annexure-B (Schedule of Fees) stands modified and can be read as follows:
“7. Approved intermediaries are requested to send the fee payable, as stated above by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI payment gateway or any other mode as may be specified by SEBI from time to time” Point 8 under Annexure-B stands modified and read as follows:
“8. A receipt shall be sent to the approved intermediaries after the realization of the payment through any of the modes specified at Point 7”.
SEBI circular dated May 07, 1997 shall, accordingly, be modified to the above extent. All other provisions of the said SEBI circulars shall continue to remain applicable.
Stock Exchanges and Clearing Corporations are directed to: Take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules and regulations, bring the provisions of this circular to the notice of their members and also disseminate the same on their websites, confirm to SEBI, that the provisions of this circular have been implemented.
This circular shall come into effect from April 01, 2023.
Link of the circular
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