Corrigendum to Master Circular for Depositories dated October 25, 2019 on preservation of records

Last updated: 25 August 2020

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This circular from SEBI provides a correction to the Master Circular for Depositories dated October 25, 2019, specifically concerning the preservation of records. It clarifies that Depositories and Depository Participants are now required to preserve records and documents for a minimum of eight years, aligning with the SEBI (Depositories and Participants) Regulations, 2018. This update replaces previous stipulations and requires necessary amendments to bye-laws and system changes.

Securities and Exchange Broad of India CIRCULAR SEBI/HO/MRD2/DDAP/CIR/P/2020/153 August 18, 2020 To The Depositories Subject: Corrigendum to Master Circular for Depositories dated October 25, 2019 on preservation of records Sir/ Madam, 1. Please refer toSEBI circular MRD/DoP/DE

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FAQ :

The circular is a corrigendum to the Master Circular for Depositories dated October 25, 2019, specifically to update the rules regarding the preservation of records.

Depositories and Depository Participants are now required to preserve records and documents for a minimum period of eight years.

The circular references and aligns with Regulations 54 and 66 of the SEBI (Depositories and Participants) Regulations, 2018, and partially modifies SEBI Circular MRD/DoP/DEP/Cir-20/2009 dated December 9, 2009.

No, other provisions of the Master Circular for Depositories SEBI/HO/MRD/DP/CIR/P/118 dated October 25, 2019, remain unchanged.

Depositories are advised to amend relevant bye-laws, make necessary system changes, display the circular's provisions on their website, and report implementation status to SEBI.