SECURITIES AND EXCHANGE BOARD OF INDIA (VAULT MANAGERS) REGULATIONS, 2021

regulations · 1992 · State unknown

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Parent: THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 (7c4c1f5343adab106c3a94cafc08a5ecf5957ae7)

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SECURITIES AND EXCHANGE BOARD OF INDIA (VAULT MANAGERS) REGULATIONS, 2021 CONTENTS CHAPTER I PRELIMINARY Short title and commencement Definitions CHAPTER II REGISTRATION OF VAULT MANAGERS Application for registration Eligibility criteria Furnishing of information, clarification and personal representation Consideration of application for grant of certificate of registration Procedure for grant of the certificate of registration Conditions of certificate of registration Period of validity of certificate Procedure where registration is refused Surrender of registration CHAPTER III DUTIES AND OBLIGATIONS OF THE VAULT MANAGERS General obligations Segregation of activities Maintenance of records Vault Manager to indemnify loss in certain cases Code of conduct 16A. Dispute Resolution Right of Board to inspect Notice before inspection Obligations of the Vault Managers on inspection Submission of report Action on inspection Appointment of auditor Expenses for audit CHAPTER IV ELECTRONIC GOLD RECEIPTS Deposit of gold into the vault(s) Creation of Electronic Gold Receipt Withdrawal of gold CHAPTER V INSPECTION AND AUDIT CHAPTER VI PROCEDURE FOR ACTION IN CASE OF DEFAULT Liability for action in case of default CHAPTERVII MISCELLANEOUS Power of the Board to issue clarifications and guidelines Amendment to the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018 THE GAZETTE OF INDIA EXTRAORDINARY PART III-SECTION 4 PUBLISHED BY AUTHORITY SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the …..…., 2021 SECURITIES AND EXCHANGE BOARD OF INDIA (VAULT MANAGERS) REGULATIONS, 2021 S.O.__ (E).─ In exercise of the powers conferred by sub-section (1) of Section 30 read with clause (ba) of sub-section (2) of Section 11, sub-section (1A) of Section

Rule TOC

16A · Dispute Resolution

1 · [(f) "Change in control" in case of a body corporate –

1 · Substituted by the Securities and Exchange Board of India (Change in Control in Intermediaries) (Amendment) Regulations, 2023 w.e.f. 17-1-2023. Prior to the substitution, clause (f) read as under:

2 · [(b) the Vault Manager shall obtain prior approval of the Board in case of change in control in such manner as specified by the Board;]

2 · Substituted by the Securities and Exchange Board of India (Change in Control in Intermediaries) (Amendment) Regulations, 2023 w.e.f. 17-1-2023. Prior to the substitution, clause (b) read as under:

16 · The Vault Manager shall abide by the Code of Conduct as set out in the Third Schedule.

3 · [Dispute Resolution

16A · All claims, differences or disputes between a vault manager and a beneficial owner arising out of or in relation to the activities of the vault manager in the securities market shall be submitted to a dispute resolution mechanism that includes mediation and/or conciliation and/or arbitration, in accordance with the procedure specified by the Board.]

4 · [Grievance Redressal Mechanism.

16B · (1) The Vault Manager shall redress investor grievances promptly but not later than twentyone calendar days from the date of receipt of the grievance and in such manner as may be specified by the Board.

5 · [Investor Charter.

16C · The Vault Manager shall ensure compliance with the Investor Charter specified by the Board from time to time.]

3 · Inserted by the Securities and Exchange Board of India (Alternative Dispute Resolution Mechanism) (Amendment) Regulations, 2023, w.e.f. 04-07-2023.

4 · Inserted by the Securities and Exchange Board of India (Facilitation of Grievance Redressal Mechanism) (Amendment) Regulations, 2023 w.e.f. 18-08-2023.

5 · Inserted by the Securities and Exchange Board of India (Investor Charter) (Amendment) Regulations, 2025 w.e.f. 10-02-2025.

27 · A Vault Manager who—