Regulatory fees are payable by bullion exchanges, bullion clearing corporations, bullion depositories and intermediaries as specified by the Authority. Each such entity must provide further information or clarification concerning the fee payable when required.

Bullion exchanges, bullion clearing corporations, bullion depositories and vault managers must furnish returns, statements and particulars to the Authority in the specified manner. Bullion exchanges and bullion clearing corporations must also report information prescribed under the applicable rules. Annual financial statements and records for the preceding financial year must be submitted by 30 September each year.

Bullion exchanges must preserve prescribed books, documents and Authority-specified records in electronically retrievable form for the applicable retention period. Bullion clearing corporations must retain governance minutes, clearing-member and settlement-account details, transaction records, security and margin records, client margin details, ledgers, journals, cash books and bank statements in that form. Bullion depositories, vault managers and other intermediaries must preserve electronically retrievable books and documents for at least eight years.

Every bullion exchange, bullion clearing corporation and bullion depository must submit an audited net worth certificate issued by its statutory auditor. The certificate is required annually and must be submitted by 30 September for the preceding financial year.

Website maintenance is required for every bullion exchange, bullion clearing corporation, bullion depository and vault manager through a website or other universally accessible electronic information repository. It must publish required regulatory information, host rules, regulations, bye-laws, guidance and amendments, explain membership or association application procedures, and provide material information concerning the entity's functions.

Listing of securities by a bullion exchange or bullion depository on a recognised stock exchange requires completion of three years of continuous operations immediately before the application and prior approval of the Authority. Conditions may be imposed in the interest of the bullion or securities market, including conditions governing transfer of shares held by any person in the bullion exchange or bullion depository.

Authority appointment of auditors enables inspection or investigation into the books of account, records, documents, infrastructure, systems, procedures and affairs of regulated bullion market entities. Expenses incurred for such audit or investigation, including auditors' fees, are recoverable by the Authority from the concerned regulated entity.

Regulation 67 confers broad enforcement and direction-issuing powers in relation to the bullion market in an International Financial Services Centre. Directions or action, including penalties, may be initiated suo motu, on receiving information, during a pending inspection, enquiry or investigation, or after its completion. Measures may be taken in the interests of the public, trade, investors, consumers, securities market or bullion market against regulated entities and their directors, committee members, key management personnel, employees or associated persons.

Inspection, enquiry and audit powers permit the Authority to examine bullion market entities, including bullion exchanges, clearing corporations, depositories, vault managers, trading members, clearing members, and specified associates, shareholders and agents. Where an inspection is undertaken, the relevant entity or connected person and its managers, key management personnel, directors, officers and employees must cooperate.

Power to call for information enables the Authority to require information, documents or records from a bullion exchange, bullion clearing corporation, bullion depository, vault manager, their governing boards, or any shareholder. The power forms part of the framework for enquiries, inspection and enforcement in the bullion market.

Bullion market intermediaries may participate in bullion-market activities only under a certificate of registration and subject to prescribed conditions. Applicants must satisfy fit and proper criteria, file applications in the specified form and manner, and pay prescribed fees. The relevant bullion exchange, clearing corporation or depository processes applications for eligibility and forwards recommendations for registration. Registration may be suspended or cancelled, but a hearing is required except for voluntary surrender. Voluntary surrender becomes effective only upon approval.

Fit and proper requirements for persons connected with a bullion exchange, bullion clearing corporation, bullion depository or vault manager are subject to the Authority's final determination where a question arises from the decision of any such entity. The Authority's decision is conclusive on the fit and proper status of the person concerned.

Fit and proper requirements require a bullion exchange, bullion clearing corporation, bullion depository, or vault manager to replace any director or key management personnel who ceases to satisfy prescribed fitness and propriety criteria within thirty days of disqualification. Failure to replace the person permits initiation of proceedings to declare the relevant regulated entity not fit and proper.

Bullion exchanges, bullion clearing corporations, bullion depositories and vault managers must ensure that shareholders, directors and key management personnel remain fit and proper persons. This requires fairness, integrity, financial integrity, good reputation, character and honesty. Disqualifications include relevant criminal convictions, winding-up or insolvency, regulatory market restraints or adverse orders, pending recovery proceedings, unsoundness of mind, financial unsoundness, wilful default, fugitive economic offender status, and further specified disqualifications.

Delivery of bullion to the beneficial owner under a bullion depository receipt requires payment of all charges due to the vault manager and surrender of the receipt for cancellation. The vault manager must not release the bullion until these conditions are fulfilled.

Withdrawal of bullion represented by bullion depository receipts requires the bullion depository to approve a beneficial owner's request and notify the relevant vault manager. The vault manager must deliver the bullion after required documents are produced and written receipt is acknowledged. A vault manager refusing or failing to deliver bears the burden of proving sufficient reason. Withdrawal from the vault must be intimated to the bullion depository.

Bullion depository receipts are documents of title to bullion and must contain prescribed identification, vault, depositor, delivery, bullion-description, marking, and authentication particulars, along with any additional particulars required by the bullion exchange or the Authority. A vault manager is liable for damages caused by wilful omission of required particulars. Such omission alone does not invalidate the receipt for settlement of disputes or claims.

Specified amendments under the Arunachal Pradesh Goods and Services Tax (Amendment) Ordinance, 2025 take effect from 1 October 2025. The appointed commencement covers clauses (ii) and (iii) of section 2, sections 3 to 5, and sections 7 to 15, giving operative effect to the expressly identified amendment provisions from that date.

Every depositor and beneficial owner must maintain an account with the bullion depository. After receiving bullion from a depositor and completion of requisite documentation, the bullion depository must create and manage a bullion depository receipt in the depositor's name. The receipt is to be issued in dematerialised form in the manner specified by the Authority.

Depositing bullion requires a depositor to place a request with a vault empanelled with a bullion depository. Before deposit, the vault manager or its authorised representative must ensure execution of requisite documents. The vault manager must ensure that bullion meets the Authority-specified good delivery standard and, if directed by the Authority, engage an assayer at the time of deposit to test that standard.