Dispute Resolution Mechanism for Limited Purpose Clearing Corporation (LPCC)

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....) 1. Regulation 22F of Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 ('SECC Regulations') mandates a recognized LPCC to put in place a dispute resolution mechanism, for settlement of disputes or claims arising out of transactions cleared and settled by it, in the manner as specified by the Board in consultation with the Reserve Bank of India (RBI)....

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.... to the dispute. (iii) Subject to the mechanism prescribed by SEBI from time to time in terms of 2(a)(i) above, a Clearing Member, if not satisfied with the decision of the arbitration panel, may follow the procedure laid down in the Payment and Settlement Systems Act, 2007 and rules/ directions notified thereunder. b) Disputes between Clearing Member or its Clients and the LPCC: (i) All disp....

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.... be cleared and/or settled by the LPCC shall be resolved as per the dispute resolution mechanism prescribed by SEBI from time to time. d) Disputes between the LPCC and its vendors/suppliers/service providers Disputes arising between the LPCC and its vendors/ suppliers/ service providers shall be resolved as per the dispute resolution mechanism prescribed by SEBI from time to time. 3. The LPCC i....