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Obligations and responsibilities of designated depository participants

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Full Text of the Document

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....signated depository participants. 31. (1) All designated depository participants who have been granted approval by the Board shall - (a) comply with the provisions of these regulations, as far as they may apply, circulars issued thereunder and any other terms and conditions specified by the Board from time to time; (b) 1[as soon as possible but not later than two working days] inform the Boar....

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Full Text of the Document

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.... shall perform KYC due diligence for each of the joint holders; (g) in case of any penalty, pending litigation or proceedings, findings of inspections or investigations for which action may have been taken or is in the process of being taken by any regulator against a designated depository participant, the designated depository participant shall bring such information 1[as soon as possible but n....

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Full Text of the Document

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....from time to time and shall also ensure that foreign portfolio investors comply with all these requirements on an ongoing basis; (c) carry out necessary due diligence to ensure that no other depository account per depository is held by any of the concerned applicant as a foreign portfolio investor, before opening a depository account Provided that a foreign portfolio investor can open separate....

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Full Text of the Document

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....icipant shall submit the reports as specified by the Board from time to time. (5) The designated depository participant shall carry out an annual review of its systems, procedures and controls by an independent professional. Explanation: The review shall cover the systems and procedures being followed by them to meet its obligations towards its clients, regulators and other relevant bodies and c....

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