Maintenance of collateral by clearing corporations allows demat holding, transfer and liquidation of foreign sovereign securities for derivatives trading. Permits SEBI-approved clearing corporations and their clearing members to open and maintain dematerialised accounts with foreign depositories to acquire, hold, pledge, transfer and liquidate foreign sovereign securities offered by FIIs as non-cash collateral for derivatives transactions, and to remit proceeds from corporate actions. Requires monthly reporting by clearing corporations of balances of such foreign sovereign securities held as non-cash collateral to the Reserve Bank by the tenth of the following month, and notes that regulatory amendments will be issued separately.
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.
Maintenance of collateral by clearing corporations allows demat holding, transfer and liquidation of foreign sovereign securities for derivatives trading.
Permits SEBI-approved clearing corporations and their clearing members to open and maintain dematerialised accounts with foreign depositories to acquire, hold, pledge, transfer and liquidate foreign sovereign securities offered by FIIs as non-cash collateral for derivatives transactions, and to remit proceeds from corporate actions. Requires monthly reporting by clearing corporations of balances of such foreign sovereign securities held as non-cash collateral to the Reserve Bank by the tenth of the following month, and notes that regulatory amendments will be issued separately.
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