February 14, 2022
The Managing Directors / Chief Executive Officers
All Registered Vaults Managers
All Registered Depositories
Dear Sir / Madam,
- 1. Securities and Exchange Board of India (Vault Managers) Regulations, 2021 has been notified in the Official Gazette of India vide notification no. SEBI/LADNRO/GN/2021/61 dated December 31, 2021.
2. In order to ensure ease of compliance for the market participants in the EGR ecosystem as well as effective implementation of the Regulations, Standard Operating Guidelines under Regulation 28 of SEBI (Vault Managers) Regulations, 2021 read with Regulation 97 of SEBI (Depositories and Participants) Regulations, 2018 are being issued. The Standard Operating Guidelines are laid down in Annexure-1.
3. As per Chapter IV of the Vault Managers Regulations, the Vault Managers are mandated for creation and extinguishment of EGR. The modalities for deposit of gold, creation of EGR, withdrawal of gold and extinguishment of EGR are stipulated in Annexure-2.
4. This circular shall come into force with immediate effect.
5. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
6. This circular is issued with the approval of the competent authority.
7. This circular is available on SEBI website www.sebi.gov.in under the category “Circulars” and “Info for Electronic Gold Receipts”.
Yours faithfully,
Naveen Sharma
General Manager
Division of Market Policy
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