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Date: 27-Sep-2023 Category: Extra Ordinary State: Union Government Country: India

The Securities and Exchange Board of India, having considered the application for renewal of recognition made under Regulation

Issued by Securities and Exchange Board of India · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The Securities and Exchange Board of India (SEBI) has renewed the recognition of NSE Clearing Limited as a clearing corporation.

Key Changes

  • SEBI has granted a renewal of recognition to NSE Clearing Limited for a period of three years.
  • The renewed recognition is effective from October 3, 2023, and will remain valid until October 2, 2026.
  • The renewal is subject to conditions specified by SEBI from time to time.
  • The notification is issued by SEBI in exercise of powers conferred by section 4 read with sub-section (4) of section 8A of the Securities Contracts (Regulation) Act, 1956.

Impact Analysis

NSE Clearing Limited

  • NSE Clearing Limited must comply with all the conditions specified by SEBI to maintain its recognition.

Securities Market Participants

  • The renewal ensures stability and confidence in the securities market infrastructure.

Securities and Exchange Board of India (SEBI)

  • SEBI retains the power to prescribe or impose additional conditions on NSE Clearing Limited as deemed necessary.

Suggested Action Items

  • Market participants should take note of the renewed recognition and its implications for clearing and settlement processes.

Key Entities Referenced

Securities and Exchange Board of India (SEBI): The regulatory authority for the securities market in India. NSE Clearing Limited: A clearing corporation responsible for clearing and settlement of trades executed on the National Stock Exchange of India. Securities Contracts (Regulation) Act, 1956: The primary legislation governing securities contracts and stock exchanges in India. Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018: Regulations pertaining to the recognition and operation of stock exchanges and clearing corporations.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-एम.एच.-अ.-27092023-249033 xxxGIDHxxx CG-MH-E-27092023-249033 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 669] िई कदल्ली, ब धिार, जसतम्ब र 27, 2023/आज‍ि ि 5 , 1945 No. 669] NEW DELHI, WEDNESDAY, SEPTEMBER 27, 2023/ ASVINA 5, 1945 भारतीय प्रजतभजू त और जिजिमय बोडड अजधसचू िा म ंबई, 27 जसतम्बर, 2023 स.ं सेबी/एलएडी-एिआरओ/िीएि/2023/153.—भारतीय प्रजतभूजत और जिजिमय बोड,ड एिएसई जललयररंग जलजमटेड, एलसचेंि प्लािा, सी-1, ब्लॉक-िी, बांद्रा क लाड कॉम्प्लेलस, बांद्रा (ई), म ंबई - 400051, द्वारा प्रजतभूजत संजिदा (जिजियमि) (स्ट्टॉक एलसचेंि और समािोधि जिगम) जिजियम, 2018 के जिजियम 12 के तहत मान्यता का ििीकरण प्रदाि करि े के जलए ककए गए आिेदि पर जिचार करत े हुए और इस बात स े संत ष्ट हो िाि े पर कक यह व्यापार के जहत म ें होगा, प्रजतभूजत बािार (जसलयूररटीज़ माकेट) के जहत म ें होगा और ऐसा करिा लोक जहत म ें भी होगा, एतद्द्वारा, प्रजतभूजत संजिदा (जिजियमि) अजधजियम, 1956 की धारा 8क की उप-धारा (4) के साथ परित धारा 4 द्वारा प्रदाि की गई िजियों का प्रयोग करत े हुए, उपरोि समािोधि जिगम (ललीयररंग कारपोरेिि) को मान्यता का ििीकरण 3 अिूबर, 2023 को प्रारंभ होिे िाली और 2 अिूबर, 2026 को समाप्त होिे िाली तीि िर्षों की अिजध के जलए, यहााँ िीचे दी हुई ितों अथिा िो इसके पश्चात ्जिधाडररत आकद की िाएाँ के तहत, प्रदाि करता ह ै:  समािोधि जिगम भारतीय प्रजतभूजत और जिजिमय बोड ड (सेबी) द्वारा समय-समय पर जिधाडररत की िाि े िाली ितों का पालि करेगा । अिंत िारायण गो., पूणडकाजलक सदस्ट्य [जिज्ञापि-III/4/असा./451/2023-24] 6149 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 27th September, 2023 No. SEBI/LAD-NRO/GN/2023/153.—The Securities and Exchange Board of India, having considered the application for renewal of recognition made under Regulation 12 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 by NSE Clearing Limited, Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Mumbai – 400051 and being satisfied that it would be in the interest of the trade, in the interest of securities market and also in the public interest so to do, hereby grants, in exercise of the powers conferred by section 4 read with sub-section (4) of section 8A of the Securities Contracts (Regulation) Act, 1956, renewal of recognition to the said Clearing Corporation for three years commencing on the 3rd day of October, 2023 and ending on the 2nd day of October, 2026, subject to the conditions stated herein below or as may be prescribed or imposed hereafter:  The Clearing Corporation shall comply with conditions specified by SEBI from time to time ANANTH NARAYAN G., Whole Time Member [ADVT.-III/4/Exty./451/2023-24] Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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