1. Please refer to SEBI circular dated December 9, 2009 on preservation of records wherein it is inter-alia mentioned that Depositories and Depository Participants are required to preserve the records and documents for a minimum period of five years in terms of regulations 38 and 49 of the SEBI (Depositories and Participants) Regulations, 1996.
2. Further, in terms of Regulations 54 and 66 of the SEBI (Depositories and Participants) Regulations, 2018 (herein referred to as D&P Regulations, 2018) notified on October 03, 2018, Depositories and Depository Participants are required to preserve the records and documents for a minimum period of eight years.
3. In order to align the provisions of the D&P Regulations, 2018 with that of Master Circular for Depositories dated October 25, 2019, Section 4.6 (i) – Preservation of Records shall be replaced with the following: “Depositories and Depository Participants are required to preserve the records and documents for a minimum period of 8 years”
4. Further, footnote of “Preservation of records” shall be replaced with “Reference Circular MRD/DoP/DEP/Cir-20/2009 dated December 9, 2009 and Regulations 54 and 66 of the SEBI (Depositories and Participants) Regulations, 2018”.
5. It may be noted that the other provisions of the Master Circular for Depositories dated October 25, 2019 shall remain unchanged.
6. Paragraph 2 of SEBI circular MRD/DoP/DEP/Cir- 20/2009 dated December 9, 2009 stands partially modified as under: “In terms of Regulations 54 and 66 of the SEBI (Depositories and Participants) Regulations, 2018 (herein referred to as D&P Regulations, 2018) notified on October 03, 2018, Depositories and Depository Participants are required to preserve the records and documents for a minimum period of eight years”
7. It may be noted that the other provisions of SEBI circular dated December 9, 2009 shall remain unchanged.
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