Securities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 1997.

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....he Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 25 of the Depositories Act, 1996 (22 of 1996) the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996. 1. (i) These regulations may be called the Securities and Exchange Board of India (Depositories and Participants) (Sec....

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....f pledge and forward the application to the depository. (3) The depository after confirmation from the pledgee that the securities are available for pledgor with the pledgor shall within fifteen days of the receipt of the application create and record the pledge and send an intimation of the same to the participants of the pledgor and the pledgees. (4) On receipt of the intimation under sub-regu....

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....e and on such invocation, the depository shall register the pledgee as beneficial owner of such securities and amend its records accordingly. (9) After amending its records under sub-regulation (8) the depository shall immediately inform the participants of the pledgor and pledgee of the change who in turn shall make the necessary changes in their records and inform the pledgor and pledgee respec....