Extension of timelines for implementation of SEBI circulars SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137 and SEBI/HO/MIRSD/DoP/P/CIR/2022/119
Summary
SEBI extends the implementation timelines for two prior circulars concerning Demat Debit and Pledge Instructions (DDPI) and validation of securities pay-in instructions. The effective date for the DDPI circular is postponed to on or before January 20, 2023, while the validation of instructions circular becomes effective from January 27, 2023. Stock Exchanges and Depositories are directed to amend their bye-laws and report implementation status to SEBI.
Text
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)...” The provisions 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...” The provisions were to come into effect from November 25, 2022.
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.
bring the provisions of this circular to the notice of their members / participants and also disseminate the same on their websites;
make necessary amendments to the relevant Bye-laws, Rules and Regulations for the implementation of the above decision.
communicate to SEBI, the status of the implementation of the provisions of this circular within 7 working days after implementation and in their Monthly Development Reports.
This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992, and Section 19 of the Depositories Act, 1996...
Source: SecMarx — Extension of timelines for implementation of SEBI circulars SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137 and SEBI/HO/MIRSD/DoP/P/CIR/2022/119. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.