SECURITIES AND EXCHANGE BOARD OF INDIA (CUSTODIAN) REGULATIONS, 1996 — THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

SECURITIES AND EXCHANGE BOARD OF INDIA (CUSTODIAN) REGULATIONS, 1996 CONTENTS CHAPTER I: PRELIMINARY Short title and commencement. Definitions. CHAPTER II: REGISTRATION OF CUSTODIANS OF SECURITIES Application for grant of certificate. Application to conform to requirements. Furnishing of information, clarification, and personal representation. Consideration of application for grant of certificate. Capital required. Procedure and grant of certificate. Conditions of certificate. Procedure where certificate is not granted. Effect of refusal to grant certificate. CHAPTER III: GENERAL OBLIGATIONS AND RESPONSIBILITIES OF CUSTODIANS Code of conduct. Segregation of activities. Monitoring, review evaluating and inspecting systems and controls. Prohibition of assignment. Separate custody account. Agreement with the client. 17A. Dispute Resolution. Internal Controls. Maintenance of records and documents and furnishing of information. 19A. Appointment of Compliance Officer. 19B. Obligations and responsibilities. Information to the Board. CHAPTER IV: INSPECTION AND AUDIT Board's right to inspect. Notice before inspection. Obligations of custodian on inspection by the Board. Submission of Report to the Board. Communication of findings etc. to the custodian. 25A. Appointment of Auditor. 25B. Board to recover the expenses. CHAPTER V: PROCEDURE FOR ACTION IN CASE OF DEFAULT 26. Liability for action in case of default. [27. Omitted by the SEBI (Procedure for holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e.f. 27-9-2002 Omitted by the SEBI (Procedure for holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e.f. 27-9-2002 Omitted by the SEBI (Procedure for holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002, w.e