SEBI Further Relaxations due to Lockdown Extension dated 16.04.2020

SEBI Further Relaxations due to Lockdown Extension dated 16.04.2020

• OVERVIEW

Securities and Exchange Board of India (SEBI) vide notification / Circular No. SEBI/ HO/ MIRSD/ DOP/ CIR/ P/ 2020/ 62 issued and publish dated 16th April, 2020, has published Relaxation in time period for certain activities carried out by depository participants, RTAs / issuers, KRAs, stock brokers” in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Section 19 of the Depositories Act.

The Circular is issued to :

• Stock Brokers through Stock Exchanges
• Depository Participants (DPs) through Depositories
• Registrars to an Issue & Share Transfer Agents (RTA)
• KYC Registration Agencies (KRAs)

In view of the situation arising due to COVID-19 pandemic and extended lockdown period, based on representations received from the Depositories regarding relaxation in compliance with the time period for the following activities carried out by the depository participants, stock brokers, share transfer agent / issuer, it has been decided to provide the relaxation as under:

Kindly note that:

• As specified in the table above, the period beginning from March 23, 2020 till May 17, 2020 shall be excluded for computing the existing timelines specified in Regulation 74 (4) and 74 (5) of SEBI (Depositories & Participants) Regulations, 1996 and the aforementioned circular dated December 23, 2011. Further, a 15-day time period after May 17, 2020 is allowed to the SEBI registered intermediary, to clear the back log.

Source

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