Every bullion exchange, bullion clearing corporation, bullion depository and intermediary must pay regulatory fees as specified by the Authority. They must also provide further information or clarification required in relation to fees payable, creating a compliance obligation for regulatory-fee assessment and verification.

Bullion exchanges, bullion clearing corporations, bullion depositories and vault managers must furnish returns, statements and particulars 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 and clearing corporations must preserve prescribed books, documents and operational records in electronically retrievable form for the applicable retention period. Clearing-corporation records include governance minutes, clearing-member and settlement details, transactions, security and margin deposits, client margin collections, ledgers, journals, cash books and bank statements. Bullion depositories, vault managers and other prescribed intermediaries must preserve books of account and documents electronically for at least eight years.

Annual net worth certification requires every bullion exchange, bullion clearing corporation and bullion depository to submit an audited net worth certificate issued by its statutory auditor. The certificate must be furnished annually by 30 September for the preceding financial year.

Bullion exchanges, bullion clearing corporations, bullion depositories and vault managers must maintain a website or other universally accessible electronic information repository. The repository must publish information required under the regulations, host applicable rules, regulations, bye-laws, guidance and amendments, explain procedures for membership or association applications, and provide material information about the entity's functions.

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

Authority appointment of auditor enables inspection or investigation of the books of account, records, documents, infrastructure, systems, procedures and affairs of bullion exchanges, bullion clearing corporations, bullion depositories, vault managers, bullion trading members and bullion clearing members. Expenses incurred for the audit or investigation, including auditor fees, may be recovered from the relevant regulated entity.

Regulation 67 confers broad enforcement powers to issue directions and take action against regulated bullion-market entities and associated persons. Directions or action may be initiated suo motu, upon receipt of information, during an inspection, enquiry or investigation, or after its completion. Action may include penalties and may be taken to protect the public, trade, investors, consumers, securities market, or bullion market.

Inspection, enquiry and audit powers permit the Authority to inspect, conduct enquiries into, and audit bullion market entities, including exchanges, clearing corporations, depositories, vault managers, trading members and clearing members, as well as specified associated persons, shareholders and shareholder agents. Entities and persons subject to inspection, including senior management, directors, officers and employees, must cooperate.

Power to call for information permits 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 of those entities for enquiries, inspection and enforcement in the bullion market.

Bullion-market intermediaries must obtain and comply with a certificate of registration before undertaking bullion-market activities. They must satisfy fit and proper criteria, and registration applications are processed by the relevant bullion exchange, clearing corporation or depository subject to prescribed eligibility conditions. Registration may be suspended or cancelled on the Authority's own motion or recommendation, after an opportunity of hearing except where registration is voluntarily surrendered. 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 bullion exchanges, bullion clearing corporations, bullion depositories and vault managers to replace disqualified directors or key management personnel within thirty days. Failure to do so permits the Authority to begin the process of declaring the relevant entity not fit and proper.

Regulation 61 requires bullion exchanges, bullion clearing corporations, bullion depositories and vault managers to ensure that their shareholders, directors and key management personnel remain fit and proper at all times. Fitness depends on fairness, integrity, financial integrity, reputation, character and honesty. Disqualifications include relevant criminal convictions, winding-up or insolvency, regulatory restraints or adverse bullion-market orders within prescribed periods, pending recovery proceedings, unsoundness of mind, financial unsoundness, wilful default, fugitive economic offender status, and further disqualifications specified by the Authority.

Delivery of bullion to the beneficial owner of a bullion depository receipt is conditional upon 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 both requirements are satisfied.

Withdrawal of bullion represented by a bullion depository receipt requires depository approval and intimation to the vault manager. The vault manager must deliver the bullion upon production of required documents and written acknowledgment by the beneficial owner. Where delivery is refused or not made, the vault manager bears the burden of proving a sufficient reason. The vault manager must also notify the bullion depository when bullion is withdrawn from the vault.

Bullion depository receipts are documents of title to bullion and must contain prescribed receipt, vault, depositor, delivery, bullion-description, and authentication particulars, together with any additional particulars specified 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. Upon receiving bullion from a depositor and execution of all requisite documents, the bullion depository must create and manage a bullion depository receipt in the depositor's name in dematerialised form, following the manner specified by the Authority.

Depositing bullion into an empanelled vault requires the depositor to submit a deposit request to a vault empanelled with a bullion depository. The vault manager or its authorised person must ensure execution of requisite documentation before deposit. The vault manager must also ensure that the bullion meets the Authority-specified good delivery standard and, when directed, engage an assayer at the time of deposit to test that standard.