Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Fourth Amendment) Regulations, 2025

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....ontracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, namely, - 1. These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Fourth Amendment) Regulations, 2025. 2. They shall come into force on the thirtieth day from the date of their publication in the Official Gazette. 3. In the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, I. in regulation 23, (1) in sub-regulation (1), i. in clause (b), the word and symbol "and," shall be omitted; ii. in clause (c), the symbol ":" shall be substituted with the word and symbols "; and,"; iii. after clause (c), the words and symbols "(d) executive director....

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....the affairs of the recognised stock exchange or the recognised clearing corporation; b) ensure that the recognised stock exchange or the recognised clearing corporation complies with the provisions of all applicable acts, rules and regulations, circulars, guidelines or directions issued thereunder from time to time; c) ensure that the functions under Vertical 1 and Vertical 2 of the recognised stock exchange or the recognised clearing corporation, as provided in Part C of Schedule II of these regulations, are performed in the interest of the securities market and are guided by public interest, without having any revenue-oriented objectives. d) be responsible for the overall risk management of the recognised stock exchange or the recog....

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....rd of any other company: Provided that the executive director of a recognised stock exchange or a recognised clearing corporation may, with the prior approval of the governing board of the recognised stock exchange or the recognised clearing corporation, be appointed on the board of a subsidiary of a recognised stock exchange or a recognised clearing corporation. (6) The roles and responsibilities of executive directors of Vertical 1 and Vertical 2 shall include the following: a) management of whole of the affairs of their respective verticals; b) ensure that the functions under their respective verticals of the recognised stock exchange or the recognised clearing corporation are operating in the interest of the securities market an....

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....the functioning of recognised stock exchange or the recognised clearing corporation and respond to cybersecurity incidents. (2) The role and responsibilities of the chief information security officer shall include the following: (a) establish appropriate standards and controls; (b) direct the establishment and implementation of processes and procedures as per the cybersecurity and cyber resilience policy approved by the governing board of the recognised stock exchange or the recognised clearing corporation; and (c) cyber security initiatives including planning, developing, maintaining, reviewing and implementation of Information Security Policies." AMIT PRADHAN, Executive Director [ADVT.-III/4/Exty./492/2025-26] Footnote: 1. The....

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....) (Second Amendment) Regulations, 2022 vide No. SEBI/LAD-NRO/GN/2022/104. (h) 28th February, 2023, by the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2023 vide No. SEBI/LAD-NRO/GN/2023/124. (i) 24th July, 2023, by the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2023 vide No. SEBI/LAD-NRO/GN/2023/139. (j) 22nd August, 2023, by the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Third Amendment) Regulations, 2023 vide No. SEBI/LAD-NRO/GN/2023/148. (k) 26th April, 2024, by the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendmen....