Designated depository participant eligibility requires registration, custodian status, AD bank tie up and AML and fit and proper systems. Approval as a designated depository participant requires registration as a depository participant and as a custodian, a tie up with an Authorised Dealer Category 1 bank, a multinational presence or regulated overseas relationships, systems and procedures to meet AML/FATF standards and domestic AML law, and a fit and proper status under intermediary criteria; the Board may accept other regulated entities with sufficient custodial experience in the interest of market development, provided they register as participant and custodian and have an AD Category 1 bank tie up.
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.
Designated depository participant eligibility requires registration, custodian status, AD bank tie up and AML and fit and proper systems.
Approval as a designated depository participant requires registration as a depository participant and as a custodian, a tie up with an Authorised Dealer Category 1 bank, a multinational presence or regulated overseas relationships, systems and procedures to meet AML/FATF standards and domestic AML law, and a fit and proper status under intermediary criteria; the Board may accept other regulated entities with sufficient custodial experience in the interest of market development, provided they register as participant and custodian and have an AD Category 1 bank tie up.
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