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<h1>Nomination Circular implementation timeline deferred; Phase III postponed and effective immediately pending new date for securities market.</h1> The timeline for implementing Phase III of the Nomination Circular is deferred from December 15, 2025 to a later date to be notified separately, and this deferral takes immediate effect. All other provisions of the January 10, 2025 circular and its subsequent amendments continue to remain in force pending the new timeline.