Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2021

The Securities and Exchange Board of India has released the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2021, as an amendment to the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018. Read the official notification and changes made below:

SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 23rd March, 2021
SECURITIES CONTRACTS (REGULATION) (STOCK EXCHANGES AND CLEARING
CORPORATIONS) (AMENDMENT) REGULATIONS, 2021

No. SEBI/LAD-NRO/GN/2021/12.—In exercise of the powers conferred by sections 4, 8A and 31 of the Securities Contracts (Regulation) Act, 1956, read with sections 11 and 30 of the Securities and Exchange Board of India Act, 1992, the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, namely:—

1. These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2021.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, -

I. In regulation 2, sub-regulation (1), -

i. After clause (ha), the following clause shall be inserted, namely,-

“(hb) “financial year” means the period of twelve months commencing on the first day of April every year;”

ii. After clause (o), the following clause shall be inserted, namely,-

“(oa) “quarter” means the period of three months commencing on the first day of April, July, October and January of each financial year;”

iii. Clause (ra), (rb) and (rc) shall respectively be renumbered as clause (rb), (rc) and (rd) and before the clauses so renumbered, the following clause shall be inserted, namely,-

“(ra) “regulatory fee” means fees levied by the Board under these regulations for carrying out the functions under the Act and the Securities and Exchange Board of India Act, 1992 (15 of 1992);”

To read more in details, find the enclosed file