TMI BlogObligations and responsibilities of designated depository participantsX X X X Extracts X X X X X X X X Extracts X X X X ..... onsibilities of designated depository participants. 32. (1) All designated depository participants who have been granted approval by the Board shall - (a) comply with the provisions of these regulations, as far as they may apply, circulars issued thereunder and any other terms and conditions specified by the Board from time to time; (b) forthwith inform the Board in writing, if any infor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the details of the ultimate beneficial owners are not accessible or where the beneficial owners are ring fenced from each other or where the beneficial owners are ring fenced with regard to enforcement: Provided that the foreign portfolio investor satisfying the following criteria shall not be treated as having opaque structure: (i) the applicant is regulated in its home jurisdiction (ii ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of inspections or investigations for which action may have been taken or is in the process of being taken by any regulator against a designated depository participant, the designated depository participant shall bring such information forthwith, to the attention of the Board, depositories and stock exchanges; (i) be guided by the relevant circular on Anti-Money Laundering or Combating the Finan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appropriate declarations and undertakings from applicant to ensure that no other depository account is held by any of the concerned applicant as a foreign portfolio investor or as a non residentIndian, before opening a depository account; (d) ensure that equity shares held by foreign portfolio investors are free from all encumbrances: 1 [Explanation. - An encumbrance created to meet any sta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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