TMI BlogSecurities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 1997.X X X X Extracts X X X X X X X X Extracts X X X X ..... tion (1) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 25 of the Depositories Act, 1996 (22 of 1996) the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996. 1. (i) These regulations may be called the Securities and Exchange Board of India (Deposi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l make a note in its records of the notice of pledge and forward the application to the depository. (3) The depository after confirmation from the pledgee that the securities are available for pledgor with the pledgor shall within fifteen days of the receipt of the application create and record the pledge and send an intimation of the same to the participants of the pledgor and the pledgees. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the provisions of the pledge document, the pledgee may invoke the pledge and on such invocation, the depository shall register the pledgee as beneficial owner of such securities and amend its records accordingly. (9) After amending its records under sub-regulation (8) the depository shall immediately inform the participants of the pledgor and pledgee of the change who in turn shall make the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an Footnote :-(1) SEBI (Depositories and Participants) Regulations. 1996, the principal regulation, was published in the Gazette of India on May 16, 1996, vide S.O. No. 345(E). (2) SEBI (Depositories and Participants) Regulations, 1996 was amended by SEBI (Depositories and Participants) Amendment Regulations. 1997 which was published in the Gazette of India on February 7, 1997 vide S.O, No ..... X X X X Extracts X X X X X X X X Extracts X X X X
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