Securities lending definitions clarify intermediary roles, lender/borrower status, return obligation and corporate benefits treatment under the scheme. The instrument defines key terms for the Securities Lending Scheme, 1997: an approved intermediary is the SEBI-registered intermediary through whom lenders deposit and borrowers borrow securities; lender and borrower are the depositing and borrowing parties respectively; securities takes the meaning from the Securities Contracts (Regulation) Act; corporate benefits include dividends, rights, bonus, redemption benefits, interest and other accruals; and the scheme requires return of equivalent securities of the same type or class at the end of the specified period together with corporate benefits. Undefined terms are to be read from the Securities Contracts (Regulation) Act and the SEBI Act.
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Provisions expressly mentioned in the judgment/order text.
Securities lending definitions clarify intermediary roles, lender/borrower status, return obligation and corporate benefits treatment under the scheme.
The instrument defines key terms for the Securities Lending Scheme, 1997: an approved intermediary is the SEBI-registered intermediary through whom lenders deposit and borrowers borrow securities; lender and borrower are the depositing and borrowing parties respectively; securities takes the meaning from the Securities Contracts (Regulation) Act; corporate benefits include dividends, rights, bonus, redemption benefits, interest and other accruals; and the scheme requires return of equivalent securities of the same type or class at the end of the specified period together with corporate benefits. Undefined terms are to be read from the Securities Contracts (Regulation) Act and the SEBI Act.
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