Addendum to SEBI Circular on Relaxation in adherence to prescribed timelines issued by SEBI due to Covid 19 dated April 13, 2020
Summary
SEBI issues an addendum to its April 2020 circular to extend regulatory timeline relaxations for intermediaries until July 31, 2021. The scope of eligible relief is expanded from twelve to thirteen items by including the processing of demat requests. Additionally, the deadline for RTAs to submit half-yearly Internal Audit Reports for the period ended March 31, 2021, is extended to July 31, 2021.
Text
It has been now decided to add, 'Processing of the demat requests', to this list and accordingly the list of 13 items that are eligible for relief stand revised as follows;
Relaxation is hereby being given to intermediaries / market participants w.r.t. compliance with the prescribed timelines which has been extended to July 31, 2021 in view of the Covid-19 situation. The aforesaid relaxation shall be applicable for items No. 1-13.
it has now been decided that the timeline of May 15, 2021 for submission of IAR by RTAs for half year ended March 31, 2021 has been extended to July 31, 2021 in view of the Covid-19 situation.
This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
The Stock Exchanges and Depositories shall bring the contents of this circular along with the circular dated April 13, 2020 to the notice of all their respective constituents.
Source: SecMarx — Addendum to SEBI Circular on Relaxation in adherence to prescribed timelines issued by SEBI due to Covid 19 dated April 13, 2020. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.