a) SEBI vide circular no. SEBI/HO/MRD2/DDAP/CIR/P/2020/153 dated August 18, 2020 has provided Corrigendum to Master Circular for Depositories dated October 25, 2019on preservation of records.
b) In terms of Regulations 54 and 66 of the SEBI (Depositories and Participants) Regulations, 2018 (herein referred to as D&P Regulations, 2018) notified on October 03, 2018, Depositories and Depository Participants are required to preserve the records and documents for a minimum period of eight years.
c) In In order to align the provisions of the D&P Regulations, 2018 with that of Master Circular for Depositories dated October 25, 2019, Section 4.6 (i) -Preservation of Records shall be replaced with the following:
i) “Depositories and Depository Participants are required to preserve the records and documents for a minimum period of 8 years”
d) This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992and Section 19 of the Depositories Act, 1996,to protect the interests of investors in securities market and to promote the development of and to regulate the securities market.
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