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of <h1>Regulation 57 prohibits depositories from delegating functions without Board approval, ensuring securities management integrity.</h1> Regulation 57 of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, prohibits any depository from assigning or delegating its functions to another person without obtaining prior approval from the Board. This regulation ensures that the core responsibilities of depositories are maintained under direct oversight and control, safeguarding the integrity of securities management and transactions.
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