The Securities Exchange Board of India, (SEBI) on March 27, 2023, issued a Circular regarding the Amendment to Securities Lending Scheme, 1997
The provisions of this circular shall come into effect from April 01, 2023.
The following has been amended namely: -
• In Point 7 in Annexure-B (Schedule of Fees) stands modified and be read as follows namely: -
“7. Approved intermediaries are requested to send the fee payable, as stated above by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI payment gateway or any other mode as may be specified by SEBI from time to time”
• In Point 8 under Annexure-B stands modified and read as follows namely: -
“8. A receipt shall be sent to the approved intermediaries after the realization of the payment through any of the modes specified at Point 7”
• The SEBI circular dated May 07, 1997, shall be modified to the above extent. All other provisions of the said SEBI circulars shall continue to remain applicable.
• Stock Exchanges and Clearing Corporations are directed to:
a) take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules, and regulations;
b) bring the provisions of this circular to the notice of their members and also disseminate the same on their websites
c) confirm to SEBI, that the provisions of this circular have been implemented.
• This circular is available on the SEBI website at www.sebi.gov.in at “Legal-Circulars”
[Circular No. SEBI/HO/MRD/MRD-POD-2/P/CIR/2023/41]
