Vault Managers storing bullion underlying Electronic Gold...

Vault Managers storing bullion underlying Electronic Gold Receipts, bullion ETFs, bullion derivatives, or other permitted instruments must comply with an expanded vaulting framework. They must ensure underlying bullion has never exited the vaulting system, reconcile physical holdings with relevant records, segregate holdings instrument-wise and entity-wise, deliver bullion to prescribed standards, and indemnify beneficial owners for losses. Entities may use vaulting services for such bullion only from registered Vault Managers; existing providers may continue for three months if they apply for registration within that period. Every Vault Manager must appoint a compliance officer for independent non-compliance reporting and quarterly investor-grievance reporting. SEBI may prescribe procedures and grant conditional relaxations for procedural or technical matters and events beyond an entity's control. The amendments take effect 90 days after Gazette publication.