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        SEBI

        Section 3 - Certificate of Commencement of Business by Depositories

        Depositories Act, 1996
        Chapter II
        CERTIFICATE OF COMMENCEMENT OF BUSINESS

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        Certificate of commencement requirement ensures depositories meet systems and safeguards before starting operations, via prescribed regulatory formality. A depository must obtain a Certificate of Commencement of Business from the Board in the form prescribed by regulations before acting as a depository; the Board will grant the certificate only after being satisfied that the depository has adequate systems and safeguards to prevent manipulation of records and transactions, and no certificate shall be refused without giving the depository a reasonable opportunity of being heard.
                        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.

                              Certificate of commencement requirement ensures depositories meet systems and safeguards before starting operations, via prescribed regulatory formality.

                              A depository must obtain a Certificate of Commencement of Business from the Board in the form prescribed by regulations before acting as a depository; the Board will grant the certificate only after being satisfied that the depository has adequate systems and safeguards to prevent manipulation of records and transactions, and no certificate shall be refused without giving the depository a reasonable opportunity of being heard.


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