SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 25th April, 2022
SECURITIES AND EXCHANGE BOARD OF INDIA (CUSTODIAN) (AMENDMENT) REGULATIONS, 2022
F. No. SEBI/LAD-NRO/GN/2022/81.— In exercise of the powers conferred by section 30 read with clause (ba) of sub-section (2) of section 11 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Custodian) Regulations, 1996, namely –
1. These Regulations may be called the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2022.
2. They shall come into force on the date of their publication in the Official Gazette.
3. In the Securities and Exchange Board of India (Custodian) Regulations, 1996, –
I. In regulation 2, –
i. in clause (e),
a. after the words “gold or gold related instruments” and before the words “held by a mutual fund”, the words “or silver or silver related instruments” shall be inserted.
b. after the words “gold or gold related instruments” and before the words “or title deeds of real estate assets”, the words “or silver or silver related instruments” shall be inserted.
c. in sub-clauses (i) and (ii), after the words “gold or gold related instruments” and before the words “or title deeds of real estate assets”, the words “or silver or silver related instruments” shall be inserted.
II. In regulation 6, in sub-regulation (1), in clause (ba), the words “gold or gold related instruments of a mutual fund” shall be substituted with the words “gold or gold related instruments or silver or silver related instruments held by a mutual fund”.
III. In regulation 8, –
i. in sub-regulation (3), in the proviso, the words “gold or gold related instruments of a mutual fund” shall be substituted with the words “gold or gold related instruments or silver or silver related instruments held by a mutual fund”;
ii. in sub-regulation (4), the words “of a mutual fund” shall be substituted with the words “held by a mutual fund”;
iii. after sub-regulation (6), the following sub-regulations shall be inserted, namely, –
“(7) A custodian holding a certificate of registration as on the date of commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2022, may provide custodial services in respect of silver or silver related instruments held by a mutual fund only after taking prior approval of the Board.”
IV. In regulation 15, in the proviso, –
i. after the words “gold” and before the words “belonging to its client”, the words “or silver” shall be inserted;
ii. after the words “gold exchange traded fund scheme” and before the symbol and words “, subject to the following conditions”, the words “or a silver exchange traded fund scheme” shall be inserted;
iii. in clause (a), after the words “gold” and before the words “kept with such other person”, the words “or silver” shall be inserted;
iv. in clause (b) and (c), after the words “gold” and before the words “so kept with the other person”, the words “or silver” shall be inserted;
MADHABI PURI BUCH, Chairman
[ADVT.-III/4/Exty./47/2022-23]
Footnote:
(1) The Securities and Exchange Board of India (Custodian of Securities) Regulations, 1996, the Principal Regulations were published in the Gazette of India on May 16, 1996 vide S.O. No. 344 (E) .
(2) The Securities and Exchange Board of India (Custodian of Securities) Regulations,1996 were subsequently amended –
(i) On December 4, 1996 by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 1996 vide S.O. No. 851(E).
(ii) On October 17, 1997 by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 1997 vide S.O. No. 732 (E).
(iii) On January 5, 1998 by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 1998 vide S.O. No. 17(E).
(iv) On March 28, 2000 by the Securities and Exchange Board of India (Appeal to the Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide S.O. No. 278(E)
(v) On May 29, 2001 by the Securities and Exchange Board of India (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide S.O. No. 476(E).
(vi) On September 27, 2002 by the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide S.O.No.1045(E).
(vii) On March 10, 2004 by the Securities and Exchange Board of India (Criteria for Fit and Proper Person) Regulations, 2004 vide S.O.No.398(E).
(viii) On January 12, 2006 by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 2006 vide S.O.No.39(E).
(ix) On October 31, 2006 by the Securities and Exchange Board of India (Custodian of Securities) (Second Amendment) Regulations, 2006 vide No. No. S.O. 1860(E).
(x) On March 31, 2008 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2008 vide F. No.11/LC/GN/2008/21669.
(xi) On July 4, 2008 by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 2008 vide No. 11/LC/GN/15 /2008/130775.
(xii) On June 19, 2009 by the Securities and Exchange Board of India (Facilitation of Issuance of Indian Depository Receipts) (Amendment) Regulations, 2009 vide No. LAD-NRO/GN/2009-2010/ 10/166936.
(xiii) On June 29, 2009 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2009 vide No. LAD-NRO/GN/2009-10/11/167759.
(xiv) On May 23, 2014 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 2014 vide No. LAD-NRO/GN/201415/03/1089
(xv) On March 6, 2017 by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017 vide notification no. SEBI/LAD/NRO/GN/2016-17/037 read with notification no. SEBI/LAD/NRO/GN/2016-17/38 dated March 29, 2017.
(xvi) On January 1, 2019 by the Securities and Exchange Board of India (Custodian of Securities) (Amendment) Regulations, 2018 vide notification no. SEBI/LAD-NRO/GN/2019/01.
(xvii) On April 17, 2020 by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020 vide No. SEBI/LAD-NRO/GN/2020/10.
(xviii) On August 3, 2021 by the (Regulatory Sandbox) (Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/30.
