CDSL relaxes timelines for compliances by Depository Participant
Central Depository Services Limited vide its Communique No. CDSL/A,I&C/DP/POLCY/2020/164 dated March 30, 2020 granted relaxation for certain compliances of SEBI (Depositories & Participants) Regulations, 2018 and the Depository Participants are advised to note that the period beginning from March 23, 2020 till April 30, 2020 will be excluded for computing the existing timelines specified in the aforesaid SEBI DP Regulations, the SEBI Circular and Operating Instructions:
1. Processing of demat requests form by Issuer/RTAs as per Regulation 74 (5) of SEBI (D&P) Regulations, 2018 (Existing Timeline is 15 days of receipt of the certificate of security)
2. Processing demat requests form by the Depository Participants as per Regulation 74 (4) of SEBI (D&P) Regulations, 2018 (Existing Timeline is 7 days of the receipt of certificate of security)
3. KYC application Form and supporting documents of the clients to be uploaded on system of KRA within 10 working days by the intermediary (SEBI circular no. MIRSD/Cir-26/2011 dated December 23, 2011)
Note: 15-day(s) time period is allowed to clear the back log of aforesaid requests, after April 30, 2020.