Electronic Gold Receipt creation limited to underlying physical gold; vault managers must safeguard, reconcile and deliver per instructions. Regulation 12 requires Vault Managers to accept and store gold in the form specified by exchanges, keep it only in recognized vaults, ensure quality per ... Summary
Securities and Exchange Board of India (Intermediaries) Regulations, 2008
Electronic Gold Receipt creation limited to underlying physical gold; vault managers must safeguard, reconcile and deliver per instructions.
Regulation 12 requires Vault Managers to accept and store gold in the form specified by exchanges, keep it only in recognized vaults, ensure quality per the gold standard, create Electronic Gold Receipts only against underlying physical gold, maintain complete records, implement safekeeping measures and a Data Recovery System, operate internal controls to prevent manipulation, disclose charges online, and submit periodic reports to the Board.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.