1. In view of the situation arising due to COVID-19 pandemic, lockdown imposed by the Government and representations received from the Depositories, SEBI had earlier provided relaxations in timelines for compliance with various regulatory requirements by the depository participants (DPs) / Registrars to an Issue & Share Transfer Agents (RTAs), vide circular dated April 16, 2020, and dated April 24, 2020. Later, vide circular dated June 30, 2020, timelines / period of exclusion was further extended for certain compliance requirements.
2. In view of the prevailing situation due to COVID-19 pandemic and representation received from the Depositories, it has been decided to further extend the timelines for compliance with the regulatory requirements by DPs / RTAs / KRAs, mentioned in the SEBI circulars, as under:
| Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/62 dated April 16, 2020. | S. Nos. for which timeline is extended | Extended timeline / Period of exclusion |
| Processing of the demat request form by Issuer / RTA | I | Period of exclusion shall be from March 23, 2020 till September 30, 2020. A 15-day time period after September 30, 2020 is allowed to Depository / DPs, to clear the back log. |
| Processing of the demat request form by the Participants. | II | |
| KYC application form and supporting documents of the clients to be uploaded on system of KRA within 10 working days | III | |
| Compliance requirements for which timelines were extended vide SEBI circular No. SEBI/HO/MIRSD/DOP/CIR/P/2020/72 dated April 24, 2020 | S. Nos. for which timeline is extended | Extended timeline / Period of exclusion |
| Submission of half yearly Internal Audit Report (IAR) by DPs for half year ended March 31, 2020 | II | September 30, 2020 |
| Redressal of investor grievances. | III | Period of exclusion shall be from March 23, 2020 till September 30, 2020. A 15-day time period after September 30, 2020 is allowed to Depository / DPs, to clear the back log. |
| Transmission of securities. | IV | |
| Closure of demat account. | V | |
| Systems audit on annual basis. | VI | September 30, 2020 for the financial year ended on March 31, 2020. |
3. All other conditions specified in the aforementioned circulars shall continue to remain applicable.
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