52. A recognised depository shall have a mechanism in place to ensure that the interests of the persons buying and selling securities held in the depository are adequately protected. =============... ... ...

51. A recognised depository shall maintain continuous electronic means of communication with all its participants, issuers or issuers' agents, clearing houses and clearing corporations of the stock exchanges and with other depositories. =============... ... ...

50. A recognised depository shall cause an inspection of its controls, systems, procedures and safeguards to be carried out annually and forward a copy of the report to the Authority. =============... ... ...

49. (1) A recognised depository shall ensure that the integrity of the automatic data processing systems is maintained at all times. (2) A recognised depository shall take all precautions necessary to ensure that the records are not lost, destroyed or tampered with and in the event of loss or destruction, ensure that sufficient back up of records is available at all times at a different place. =============... ... ...

48. A recognised depository shall have adequate mechanisms for the purposes of reviewing, monitoring and evaluating the depository's controls systems, procedures and safeguards. =============... ... ...

47. A recognised depository shall have systems and procedures which will enable it to co-ordinate with the issuer or its agent, and the participants, to reconcile the records of ownership of securities on a daily basis. =============... ... ...

46. (1) Either on the issuer or on the investor exercising an option to hold his securities with a recognised depository in dematerialised form, the issuer shall enter into an agreement with the depository to enable the investor to dematerialise the securities: Provided that no agreement shall be required to be entered into where the depository itself is an issuer of securities: Provided further that no such agreement shall be required to be entered into where the Central Government of... ... ...

45. A recognised depository shall enter into an agreement with one or more participants as its agent. =============... ... ...

CHAPTER V GENERAL OBLIGATIONS OF A RECOGNISED DEPOSITORY 44. All securities defined under the SCRA and other eligible instruments under IFSCA Act shall be eligible for being held in dematerialised form in a recognised depository. =============... ... ...

43. The right of a recognised clearing corporation to recover the dues from its clearing members, arising from the discharge of their clearing and settlement functions, from the collaterals, deposits and the assets of the clearing members, shall have priority over any other liability of or claim against the clearing members. =============... ... ...

42. The recognised clearing corporation providing clearing and settlement services for commodity derivatives which result in physical settlement shall ensure financial guarantee for settlement of trades including good delivery. Explanation: For the purpose of this regulation, "good delivery" shall mean the delivery of goods that is in proper form to transfer title and is of the quality and quantity as per contract specifications of the concerned exchange. =============... ... ...

41. (1) The payment and settlement in respect of a transaction in a recognised stock exchange and recognised clearing corporation shall be determined in accordance with the netting or gross procedure as specified in the bye-laws of such recognised stock exchange and recognised clearing corporation, with the prior approval of the Authority. (2) Payment and settlement in respect of a transaction between parties referred to in sub- regulation (1), effected under the bye-laws of a recognised ... ... ...

40. (1) A recognised stock exchange and recognised clearing corporation shall, with the prior approval of the Authority, make bye-laws for the regulation of contracts and clearing and settlement, as the case may be. (2) The bye-laws of a recognised stock exchange or a recognised clearing corporation shall not be amended without prior approval of the Authority. (3) No memorandum of association, articles of association or any other constitution document, in so far as they relate to matte... ... ...

39. (1) A recognised stock exchange shall maintain and preserve the books of account and documents referred in rule 14 of the rules, and such other records as may be specified by the Authority from time to time, in electronic retrieval form for a minimum period of twenty years. (2) A recognised clearing corporation shall maintain and preserve the following books of account and documents in electronic retrieval form for a minimum period of twenty years namely:- (a) Minute books of... ... ...

38. (1) A recognised clearing corporation shall lay down a policy framework for ensuring that there is no discrimination while rendering clearing and settlement services in settlement of trades executed on shareholder stock exchange from those executed on non-shareholder stock exchange. (2) The framework shall be made available on the website of the clearing corporation and shall provide the basis on which access to clearing and settlement services of the clearing corporation has been pro... ... ...

37. (1) The utilization of profits and investments by a recognised stock exchange or a recognised clearing corporation shall be in accordance with the norms specified by the Authority. (2) The recognised stock exchange or recognised clearing corporation shall not carry on any activity involving deployment of funds without prior approval of the Authority: Provided that prior approval of the Authority shall not be required in case of treasury investments if such investments are as per th... ... ...

36. A recognised stock exchange and a recognised clearing corporation shall have in place Site to maintain data and transaction integrity in the manner as may be specified by the Authority from time to time. =============... ... ...

35. (1) A recognised stock exchange providing co-location facilities shall supervise and monitor such facilities and shall ensure that the integrity, security and privacy of data and trading systems are maintained, at all times. (2) A recognised stock exchange shall ensure that equal and fair access is provided to the participants through such co-location facilities. (3) A recognised stock exchange providing co-location facilities shall publish quarterly reports on their websites on la... ... ...

34. A recognised stock exchange shall have a procedure for any halt of trading in market or individual scrip in response to volatility, or in anticipation of major company-specific announcements for promoting fair and orderly trading. =============... ... ...

33. (1) A recognised stock exchange and a recognised clearing corporation shall have a sound risk management system and infrastructure for comprehensively managing risks. (2) A recognised stock exchange shall evolve a detailed framework for the applicable position limits for each product to be traded. (3) A recognised clearing corporation shall evolve a robust risk management framework and shall comply with the following: (a) The risk management framework shall be in line with... ... ...