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Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities - Clarification - SEBI - SEBI/HO/MIRSD/MIRSD-PoD-1/P/CIR/2022/137

Extract

..... rsquo; (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities. 2. In view of the representations by and consultations with Broker Associations and Depositories, it has been decided to widen the scope of DDPI to include: 2.1. Mutual Fund transactions being executed on Stock Exchange order entry platforms; and 2.2. Tendering shares in open offers through Stock Exchange platforms. 3. Accordingly, the following amendments are being made .....

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Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities - Clarification - SEBI

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..... ed October 04, 2021 and SEBI/HO/IMD/IMD-I DOF5/P/CIR/2022/29 dated March 15, 2022 or any other circular which may be issued in this regard; and 3.1.4. Tendering shares in open offers which shall be in compliance with SEBI circular SEBI/HO/CFD/DCR-III/CIR/P/2021/615 dated August 13, 2021 or any other circular which may be issued in this regard. The DDPI shall serve the same purpose of PoA and significantly mitigate the misuse of PoA. The use of DDPI shall be limited only for the purposes as menti .....

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Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities - Clarification - SEBI

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..... f Annexure to the SEBI circular no. CIR/MRD/DMS/13/2010 dated April 23, 2010, with effect from September 1, 2022. 9.2 Paragraph 1 (iii) to the extent applicable for Mutual Fund transactions and tendering shares in open offers, of Annexure to the SEBI circular no. CIR/MRD/DMS/13/2010 dated April 23, 2010, with effect from November 18, 2022.” 4. Annexure-A of the SEBI circular dated April 04, 2022 is modified to the extent of para 3.1 above. All other provisions specified in SEBI circular da .....

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Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities - Clarification - SEBI

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..... Debit and Pledge Instruction S.No. Purpose Signature of Client * 1. Transfer of securities held in the beneficial owner accounts of the client towards Stock Exchange related deliveries / settlement obligations arising out of trades executed by clients on the Stock Exchange through the same stock broker 2. Pledging / re-pledging of securities in favour of trading member (TM) / clearing member (CM) for the purpose of meeting margin requirements of the clients in connection with the trades executed .....

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Execution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities - Clarification - SEBI

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