There is a requirement for clearing corporations to conduct independent audits of the goods and other facilities in the storage facilities by engaging expert agencies, at regular intervals.
It has been decided that the requirement of two inspections in a calendar year may be done away for accredited storage facility with ‘Nil’ stock, continuously during preceding six months. In these cases, the number of inspections by an independent agency may be limited to ‘once in a calendar year’.
It has been decided that the requirement of inspection by an independent agency may also be done away with, in case there is ‘Nil’ stock in an accredited storage facility continuously during the calendar year”. However, to ensure readiness of accredited warehouse/s to accept new deposits, it is emphasized that requirement of periodic (in-house) inspection by clearing corporation, as stated in Para 12.16.1 of Master Circular, shall continue to apply.
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