SEBI issues guidelines for ‘Orderly Winding Down’ & services of a Clearing Corporation
- Blog|News|Company Law|
- < 1 minute
- By Taxmann
- |
- Last Updated on 19 December, 2022
Latest from Taxmann
Circular no. SEBI/HO/MRD-PoD-3/P/CIR/2022/173, Dated 16.12.2022
The SEBI has issued guidelines for winding down operations and services offered by clearing corporations (CCs). These entities will be allowed to wind down operations and exit as a strategic or business decision. The policy framework shall contain a Standard Operating Procedure (SOP), under which a notice or intimation regarding the winding down of critical operations and services shall be issued by the CC as and when the scenarios get triggered, with prior approval of SEBI.
Further, the SOP shall also contain details of key employees or staff members, along with their roles and obligations, etc., who shall be retained and responsible for the development, review, and ongoing monitoring etc. of the critical operations and services, once the process of the orderly winding down of critical operations and services is initiated.
Click Here To Read The Full Circular
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
