Dispute Resolution Mechanism for Limited Purpose Clearing Corporation (LPCC)

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....hanism for Limited Purpose Clearing Corporation (LPCC) 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 Boa....

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....cision of the arbitration panel shall be final and binding on the parties 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. ....

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....learing Members and their clients arising out of any transactions cleared and settled or intended to 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 ....