Block mechanism in demat accounts mandatory for Early Pay-In; clients with registered custodians exempted, compliance required. The circular mandates the block mechanism for all Early Pay-In transactions while exempting clients with clearing and settlement arrangements through SEBI-registered custodians. All other prior circular provisions remain applicable. Depositories and Clearing Corporations must implement systems to ensure compliance. Stock Exchanges and Depositories must notify members, publish the circular, amend bye-laws and report implementation status to SEBI.
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Provisions expressly mentioned in the judgment/order text.
Block mechanism in demat accounts mandatory for Early Pay-In; clients with registered custodians exempted, compliance required.
The circular mandates the block mechanism for all Early Pay-In transactions while exempting clients with clearing and settlement arrangements through SEBI-registered custodians. All other prior circular provisions remain applicable. Depositories and Clearing Corporations must implement systems to ensure compliance. Stock Exchanges and Depositories must notify members, publish the circular, amend bye-laws and report implementation status to SEBI.
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