The Securities and Exchange Board of India (SEBI) on April 25, 2022 has issued Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2022 to further amend the Securities and Exchange Board of India (Custodian) Regulations, 1996.
The following has been amended namely: -
• Regulation 2 which specify “Definition” clause (e) has been substituted namely: -
“’custodial services’ in relation to securities or goods of a client or gold or gold related instruments or silver or silver related instruments held by a mutual fund or title deeds of real estate assets held by a real estate mutual fund scheme in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 means, the safekeeping of such securities or goods or gold or gold related instruments or title deeds of real estate assets and providing services incidental thereto.
• Regulation 8 which specify “Procedure and Grant certificate” new sub-regulation (7) has been inserted namely: -
“A custodian holding a certificate of registration as on the date of commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2022, may provide custodial services in respect of silver or silver related instruments held by a mutual fund only after taking prior approval of the Board.”
[Notification No. SEBI/LAD-NRO/GN/2022/81]
