Electronic Gold Receipt creation requires vault managers to use a common depository interface and provide specified depositor and gold details. Regulation 18 requires registered Vault Managers to use a common interface with the depository and authorised persons to create an Electronic Gold Receipt upon accepting gold, by entering specified depositor and transaction particulars (depository account and participant details, beneficial owner identity and PAN, vault and Vault Manager registration details, storage charge rates, and comprehensive gold descriptions including bar numbers, purity certificate and refiner). The EGR must carry prescribed particulars, be credited to the beneficial owner's demat account by the depository, and the Vault Manager must ensure the accuracy of the information.
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Provisions expressly mentioned in the judgment/order text.
Electronic Gold Receipt creation requires vault managers to use a common depository interface and provide specified depositor and gold details.
Regulation 18 requires registered Vault Managers to use a common interface with the depository and authorised persons to create an Electronic Gold Receipt upon accepting gold, by entering specified depositor and transaction particulars (depository account and participant details, beneficial owner identity and PAN, vault and Vault Manager registration details, storage charge rates, and comprehensive gold descriptions including bar numbers, purity certificate and refiner). The EGR must carry prescribed particulars, be credited to the beneficial owner's demat account by the depository, and the Vault Manager must ensure the accuracy of the information.
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