TMI BlogSecurities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 2023X X X X Extracts X X X X X X X X Extracts X X X X ..... d Exchange Board of India (Depositories and Participants) Regulations, 2018 namely: 2. These regulations may be called the Securities and Exchange Board of India (Depositories and Participants) (Second Amendment) Regulations, 2023. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018- I. regulation 23 shall be substituted with the following, namely,- Requirement and criteria of fit and proper 23(1) (a) The fit and proper person criteria shall apply to the applicant, depository, its shareholders, directors and key management personnel at all times. (b) The depository shall ensure t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or the Securities and Exchange Board of India Act, 1992 (15 of 1992) that are pending; (vii) the person is not financially sound or has been categorized as a willful defaulter; and (viii) any other disqualification as may be specified by the Board from time to time. (3) For the purpose of these regulations, the shareholders, directors or key management personnel of the depository, shall be deemed to be fit and proper if,- (a) they fulfil the criteria specified under sub-regulation (2) of this regulation; and (b) they have not been found to be of unsound mind by a court of competent jurisdiction and have not been declared a fugitive economic offender; and (c) they have not been convicted of an offence involving moral tu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of . V. in regulation 35 , in clause (d), after the words fit and proper person and before the word and symbol ; and the words and symbol under the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 shall be inserted. BABITHA RAYUDU, Executive Director [ADVT.-III/4/Exty./366/2023-24] Footnote: 1. The Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 were published in the Gazette of India on October 3, 2018 vide No. No. SEBI/LAD-NRO/GN/2018/40. 2. The Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 were subsequently amended on, a. 4th June, 2019 by the Securities and Exchange Board of India (Depositorie ..... X X X X Extracts X X X X X X X X Extracts X X X X
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