Standardized Rights and Obligations document mandated to replace BO-DP agreements, harmonizing demat account opening and requiring client acknowledgement. A mandatory common Rights and Obligations document replaces existing Beneficial Owner Depository Participant agreements, must be provided to beneficial owners with acknowledgement, and any conflicting clause in voluntary or existing documents that dilutes DP responsibility or conflicts with governing rules and regulations is void; depositories must notify DPs, implement the change for new clients within the prescribed timeframe, amend bye laws and report implementation.
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.
Standardized Rights and Obligations document mandated to replace BO-DP agreements, harmonizing demat account opening and requiring client acknowledgement.
A mandatory common Rights and Obligations document replaces existing Beneficial Owner Depository Participant agreements, must be provided to beneficial owners with acknowledgement, and any conflicting clause in voluntary or existing documents that dilutes DP responsibility or conflicts with governing rules and regulations is void; depositories must notify DPs, implement the change for new clients within the prescribed timeframe, amend bye laws and report implementation.
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