Electronic Gold Receipts trading and settlement units must be specified by stock exchanges, with disclosure and implementation obligations. SEBI mandates that EGR product specifications define deposit unit, trading unit, settlement unit (equal to trading unit) and withdrawal unit (equal to deposit unit); trading units may not be smaller than one-tenth of the deposit unit and must be specified by the beneficial owner to the Vault Manager. Exchanges must include deposit and trading unit details within ISINs, disclose information to investors, reflect units in contract specifications, amend rules and publish the circular, and report implementation 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.
Electronic Gold Receipts trading and settlement units must be specified by stock exchanges, with disclosure and implementation obligations.
SEBI mandates that EGR product specifications define deposit unit, trading unit, settlement unit (equal to trading unit) and withdrawal unit (equal to deposit unit); trading units may not be smaller than one-tenth of the deposit unit and must be specified by the beneficial owner to the Vault Manager. Exchanges must include deposit and trading unit details within ISINs, disclose information to investors, reflect units in contract specifications, amend rules and publish the circular, and report implementation to SEBI.
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