MANU/SSMD/0044/2020

Ministry : Securities and Exchange Board of India

Department/Board : Market Intermediaries Regulation and Supervision Department

Circular No. : SEBI/HO/MIRSD/DOP/CIR/P/2020/143

Date : 29.07.2020

Notification/ Circulars Referred : Circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 dated February 25, 2020 MANU/SDEP/0001/2020;Circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/88 dated May 25, 2020 MANU/SDEP/0004/2020;Circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/90 dated May 29, 2020 MANU/SSMD/0026/2020

Citing Reference:
Circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 dated February 25, 2020 MANU/SDEP/0001/2020  Referred

Circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/88 dated May 25, 2020 MANU/SDEP/0004/2020  Referred

Circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/90 dated May 29, 2020 MANU/SSMD/0026/2020  Referred

To,

1. All Recognised Stock Exchanges
2. All Recognised Clearing Corporations
3. All Depositories

Madam/Sir,

Implementation of SEBI circular on 'Margin obligations to be given by way of Pledge/Re-pledge in the Depository System'

1. SEBI, vide circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/28 dated February 25, 2020, specified mechanism with regard to Margin obligations to be given by way of Pledge/Re-pledge in the Depository System. The provisions of this circular were initially to come into effect from June 01, 2020. The implementation date of the circular was extended till August 01, 2020 vide SEBI circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/88 dated May 25, 2020 read with SEBI circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/90 dated May 29, 2020 in view of disruptions on account of COVID-19 pandemic including restrictions in movement of people.

2. In view of the prevailing situation due to Coivid-19 pandemic, partial lockdowns in various areas of the country, representations received from the stock brokers and stock broker associations and that the changes to the systems and software development still under progress, it has been decided tha........