Depository receipts framework: rules for issuance, custody, eligible markets and investors under the Scheme. Defines depository receipts as foreign currency instruments issued by a foreign depository in a permissible jurisdiction against permissible securities deposited with a domestic custodian; requires foreign depositories to be regulated and capable of issuing such receipts; domestic custodians to be SEBI authorised; international exchanges to provide public access and trade transparency; permissible jurisdictions and securities to meet specified AML, regulatory membership and foreign exchange eligibility criteria; recognises voting instruction rights and unsponsored receipts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Depository receipts framework: rules for issuance, custody, eligible markets and investors under the Scheme.
Defines depository receipts as foreign currency instruments issued by a foreign depository in a permissible jurisdiction against permissible securities deposited with a domestic custodian; requires foreign depositories to be regulated and capable of issuing such receipts; domestic custodians to be SEBI authorised; international exchanges to provide public access and trade transparency; permissible jurisdictions and securities to meet specified AML, regulatory membership and foreign exchange eligibility criteria; recognises voting instruction rights and unsponsored receipts.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
