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<h1>SEBI Mandates Consistent 'Fit and Proper' Status for Depositories and Participants Under Regulation 6A, Amended in 2012</h1> Regulation 6A of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996 mandates that depositories, their sponsors, shareholders, and participants must consistently meet the 'fit and proper' criteria. The Securities and Exchange Board of India (SEBI) evaluates this status based on criteria outlined in Schedule II of the SEBI (Intermediaries) Regulations, 2008. SEBI's determination on an individual's fitness is conclusive. This provision was amended in 2012 to reinforce the requirement for maintaining the fit and proper status as per regulatory standards.