SEBI Amends Securities Contracts (Regulation) (Stock Exchanges And Clearing Corporations) Regulations, 2018

The newly introduced regulations, titled the "Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2023," have been formulated by SEBI in exercise of the powers conferred by sections 4, 8A, and 31 of the Securities Contracts (Regulation) Act, 1956, read with sections 11 and 30 of the Securities and Exchange Board of India Act, 1992.

The key amendments to the Securities Contracts Regulations are as follows:

1. In regulation 22D of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, the words and symbol "participants" shall be inserted after the words "the clearing members" and before the words "and issuers of the debt securities."
2. In regulation 37, the following changes have been made:
   a) In sub-regulation (2), the words "or a participant" shall be inserted after the words "the event of a clearing member" and before the words "failing to honour."
   b) In sub-regulation (3), the words "or participant(s)" shall be inserted after the words "failure of clearing member(s)."

Notification No. SEBI/LAD-NRO/GN/2023/139

Date: 24/07/2023

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