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<h1>SEBI Amends Regulations: Depositories Must Create 'Wind-Down Plan' for Account Transfers in Insolvency Situations.</h1> The Securities and Exchange Board of India (SEBI) issued the Securities and Exchange Board of India (Depositories and Participants) (Third Amendment) Regulations, 2016. Effective upon publication in the Official Gazette, these amendments require every depository to establish a 'wind-down plan.' This plan outlines procedures for transferring beneficial owner accounts and operational powers to an alternative institution in cases of insolvency, net worth erosion, or inability to provide critical services. The amendments were made under the authority of the SEBI Act, 1992, and the Depositories Act, 1996, reflecting SEBI's ongoing regulatory updates since the original regulations in 1996.