Now Clearing Corporations shall devise and maintain a framework for ‘Orderly Winding Down’ of their critical operations
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Notification No. SEBI/LAD-NRO/GN/2022/104, Dated 15.11.2022
SEBI has notified an amendment to the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 mandating Clearing Corporations to devise and maintain a framework for orderly winding down of their critical operations and services covering both voluntary and involuntary scenarios. Regulation 44A states that the framework shall provide for settlement or cessation or transfer of position, transfer of the collateral(s), or deposit(s) or margin(s) or any other asset(s) etc. This amendment shall come into force from 15.11.2022.
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