Block mechanism shall not be applicable to clients having arrangements with custodians registered with SEBI
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- Last Updated on 29 October, 2022
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Circular No. SEBI/HO/MIRSD/DOP/P/CIR/2022/143, Dated: 27.10.2022
In view of representations received from Depositories and Custodians, SEBI now clarified that the block mechanism shall not be applicable to clients having arrangements with custodians registered with SEBI for clearing and settlement of trades. Earlier, SEBI vide circular dated 18.08.2022 made the facility of block mechanism mandatory for all Early Pay-In transactions. Further, SEBI clarified that all other provisions in SEBI circulars w.r.t Block Mechanism shall continue to remain applicable. Also, SEBI directed Depositories and Clearing Corporations to put in place appropriate systems to ensure compliance of the provisions of this circular.
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