Review of norms for utilization of interest or income from IPF of the Depositories

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....positories 1. Paragraph 4.46 of Section 4 of SEBI Master Circular No. SEBI/HO/MRD/MRD-PoD-1/P/CIR/2024/168 for Depositories dated December 03, 2024, inter-alia, prescribed the comprehensive guidelines for Investor Protection Fund (IPF) of Depositories. 2. Paragraph 4.46.1.1(C)(i)(2) of the aforesaid Master Circular on the utilization of the interest or income received from the investments ma....

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....d modified as under: 4.46.1.1 B. Contribution to IPF of Depository i. The following contributions shall be made by the Depository to the IPF: c. At least 95% of the interest or income received every year out of any investments made from the IPF. 4.46.1.1 C. Utilization of IPF and interest or income from IPF i. The amount in IPF and any interest or incom....

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....ase of non-utilization of such amount in the same financial year, the same shall be ploughed back to IPF. 5. Applicability: The provisions of the circular shall be applicable with effect from September 01, 2026. 6. The MIIs are directed to: 6.1. take necessary steps and put in place necessary systems for the implementation of the above; 6.2. make necessary amendments to the relevant by....