The Indian Clearing Corporation Limited (ICCL) on March 13-19, 2025, proposed amendments to the Rules and Invitation for Public Comments.
The following has been stated namely: -
• In Chapter I, Clause 1.3 defines Clearing Banks as the banks engaged by the Specified Exchange or Clearing Corporation to handle margin collections and funds movements between Clearing Members and the Corporation.
• In Chapter III, clause 22 (m) - Nomination - When a member is declared a defaulter, the Relevant Authority can exercise the right to nominate a membership. The funds received from this process will be paid to the Defaulters' Committee and applied as per the Clearing Corporation's regulations and priority rules.
• Any person interested in offering any comments on the proposed Rules and Bye-laws may send the representation within a period of 10 days from the date of notification, at the following address.
Detailed notification is attached below.
[Notification no. MSETCL/CO/PS/Scheme-I/RE /PN/01666]
