Single registration for depository participants permits initial and permanent registration through any depository subject to prescribed due diligence. One certificate of initial registration and one permanent registration obtained through any depository will enable an entity to act as a participant across depositories. New entities apply to SEBI for initial registration through a depository; entities already registered with one depository apply to another depository for approval. Approvals require due diligence confirming Fit and Proper status, corrective action for prior deficiencies, recovery of pending dues, and payment of prescribed registration fees. Depositories must share participant information, report approvals monthly to SEBI, amend bye laws, and publicise the changes.
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.
Single registration for depository participants permits initial and permanent registration through any depository subject to prescribed due diligence.
One certificate of initial registration and one permanent registration obtained through any depository will enable an entity to act as a participant across depositories. New entities apply to SEBI for initial registration through a depository; entities already registered with one depository apply to another depository for approval. Approvals require due diligence confirming Fit and Proper status, corrective action for prior deficiencies, recovery of pending dues, and payment of prescribed registration fees. Depositories must share participant information, report approvals monthly to SEBI, amend bye laws, and publicise the changes.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
