Securities and Exchange Board of India (Custodian) Regulations, 1996
Summary
This part presents the contents outline and Chapter I Preliminary of the Securities and Exchange Board of India Custodian Regulations 1996 as amended up to July 08 2026 including the enabling notification under section 30 of the Securities and Exchange Board of India Act 1992. Regulation 1 states the short title as Securities and Exchange Board of India Custodian Regulations 1996 and that the regulations come into force on publication in the Official Gazette. Regulation 2 defines Act certificate change in control client custodian custodial services custody account Form goods inspecting officer Schedule and securities with custodial services covering safekeeping of securities goods gold silver and title deeds and incidental services such as account maintenance benefit collection client information and record reconciliation. Regulations 3 to 5 prescribe the application process for a custodian certificate, requiring new and existing custodians to apply in Form A with fees specified in the Second Schedule and providing for rejection of incomplete applications after opportunity to rectify. Regulation 6 lists matters the Board shall consider for grant including capital requirement under
Text
In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) the Securities and Exchange Board of India hereby makes the following, namely: —
These regulations may be called the Securities and Exchange Board of India (Custodian) Regulations, 1996.
They shall come into force on the date of their publication in the Official Gazette.
"Act" means the Securities and Exchange Board of India Act, 1992 (15 of 1992);
"certificate" means a certificate of registration granted by the Board under these regulations;
"Change in control" in case of a body corporate – (A) if its shares are listed on any recognised stock exchange, shall be construed with reference to the definition of control in terms of regulations framed under clause (h) of sub-section (2) of section 11 of the Act; (B) if its shares are not listed on any recognised stock exchange, shall be construed with reference to the definition of control as provided in sub-section (27) of Section 2 of the Companies Act, 2013 (18 of 2013);
"client" means any person who has entered into an agreement with a custodian to avail of custodial services provided by the custodian;
"custodian" means any person who carries on or proposes to carry on the business of providing custodial services;
"custodial services" in relation to securities or goods of a client or gold or gold related instruments or silver or silver related instruments held by a mutual fund or title deeds of real estate assets held by a real estate mutual fund scheme in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 means, the safekeeping of such securities or goods or gold or gold related instruments or silver or silver related instruments or title deeds of real estate assets and providing services incidental thereto, and includes— (i) maintaining accounts of securities or goods or gold or gold related instruments or silver or silver related instruments or title deeds of real estate assets of a client; (ia) undertaking activities as a Domestic Depository in terms of the Companies (Issue of Indian Depository Receipts) Rules, 2004; (ii) collecting the benefits or rights accruing to the client in respect of securities or goods or gold or gold related instruments or silver or silver related instruments or title deeds of real estate assets; (iii) keeping the client informed of the actions taken or to be taken by the issuer of securities, having a bearing on the benefits or rights accruing to the client; (iiia) keeping the client informed of the actions taken or to be taken with respect to the goods held on its behalf; and (iv) maintaining and reconciling records of the services referred to in subclauses (i) to (iiia);
"custody account" means an account of a client maintained by a custodian in respect of securities;
"Form" means any of the forms set out in the First Schedule;
"goods" means the goods notified by the Central Government under clause (bc) of section 2 of the Securities contracts (Regulation) Act, 1956 and forming the underlying of any commodity derivative contract;
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Orders that applied this
Source: SecMarx — Securities and Exchange Board of India (Custodian) Regulations, 1996. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.