RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS, MANNER OF SURRENDER OF CERTIFICATE OF SECURITY AND CREATION OF PLEDGE OR HYPOTHECATION - Securities And Exchange Board of India (Depositories And Participants) Regulations, 1996
RIGHTS AND OBLIGATIONS OF DEPOSITORIES, PARTICIPANTS, ISSUERS, MANNER OF SURRENDER OF CERTIFICATE OF SECURITY AND CREATION OF PLEDGE OR HYPOTHECATION - Securities And Exchange Board of India (Depositories And Participants) Regulations, 1996
Certificate of commencement of business: Board must verify security, infrastructure, procedures and indemnity before grant. Regulation 13 requires the Board to consider specified criteria before granting a certificate of commencement of business, including prescribed net worth, ... Summary
Certificate of commencement of business: Board must verify security, infrastructure, procedures and indemnity before grant.
Regulation 13 requires the Board to consider specified criteria before granting a certificate of commencement of business, including prescribed net worth, Board-approved bye-laws, protection of automatic data processing systems, secure communications networks, transmission and encryption standards, controlled and monitored access to premises and systems, detailed operations manuals, off-site back-up arrangements, indemnity and insurance for beneficial owners, and that the grant serves investor interest; the Board must physically verify the depository's infrastructure and systems before grant.
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