The Securities and Exchange Board of India (SEBI) on July 25, 2023, published the Securities and Exchange Board of India (Stock Brokers) (Second Amendment) Regulations, 2023 to further amend the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992
This shall come into force on July 25, 2023
The following has been amended namely: -
• In Regulation 10A which states “Application for registration”
a) in the first proviso, after the words “the concerned clearing corporation”, the symbol ‘.’ shall be substituted with the symbol ‘:’
b) after the first proviso, the following shall be inserted, namely, –
“Provided further that no separate registration shall be required for any person registered with the limited purpose clearing corporation as a participant for participating in the tri-party repo segment for undertaking proprietary trades in corporate bonds.”
c) the existing Explanation shall be renumbered as Explanation 1.
d) after Explanation 1, the following shall be inserted, namely, –“
Explanation 2. –For the purposes of these regulations, “participant” means any person who is an eligible entity as stipulated under the Repurchase Transactions (Repo) (Reserve Bank) Directions, 2018.
[Notification No. SEBI/LADNRO/GN/2023/140]
