The Securities Exchange Board of India Securities and Exchange Board of India (Depositories and Participants (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.
Key points:
In the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018:
- In regulation 35 relating to consideration of application for grant of certificate of registration, in clause (a), in sub-clause (viii), the first, second and third provisos shall be substituted with the following:
“Provided that the stock broker shall have a net-worth of rupees three crores {within one year of the date of notification of the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2022}, which shall be increased to rupees five crores {within two years of the date of notification of the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2022}:
Provided further that a self-clearing member fulfilling the net-worth requirements as provided under the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992 shall also be eligible to register as a depository participant.”