Electronic Gold Receipts operational guidelines require vault registration, security, reconciliation and insurer backed indemnity measures. Standard operating guidelines prescribe registration, maintenance of a Financial Security Deposit with a depository, designation of a Compliance Officer, segregated storage and real time tracking of gold, minimum security and insurance requirements for recognized vaults, fortnightly physical verification and inspections by Depositories, and procedures for deposit, creation, reconciliation, withdrawal and extinguishment of Electronic Gold Receipts via a common interface; Depositories must coordinate reconciliation, suspend activity on unresolved discrepancies and report to SEBI.
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.
Standard operating guidelines prescribe registration, maintenance of a Financial Security Deposit with a depository, designation of a Compliance Officer, segregated storage and real time tracking of gold, minimum security and insurance requirements for recognized vaults, fortnightly physical verification and inspections by Depositories, and procedures for deposit, creation, reconciliation, withdrawal and extinguishment of Electronic Gold Receipts via a common interface; Depositories must coordinate reconciliation, suspend activity on unresolved discrepancies and report to SEBI.
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