Monday January 10 2022

News Source: Global Exchanges

Focus: General - Global Exchanges

Type: General

Country: India


On 10th January 2022, the Securities and Exchange Board of India (SEBI) approved the framework for Gold Exchange and SEBI (Vault Managers) Regulations, 2021. 

Government of India vide has declared ‚Äúelectronic gold receipts‚ÄĚ as securities under Section 2(h)(iia) of the Securities Contracts (Regulation) Act 1956, and SEBI (Vault¬† Managers) Regulations, 2021, have been notified, paving the way for operationalizing of Gold Exchange. The framework for the proposed Gold¬† Exchange is listed at Annexure 1¬†

The  stock exchanges desirous of trading in electronic gold receipts (EGRs) may apply to SEBI for approval of trading of EGRs in new segment.  

The Circular shall come into force with immediate effect 

The Exchanges are advised to:  

  • ¬†Take steps to make necessary amendments to the relevant bye-laws, rules and regulations¬†for the¬†implementation of the same,¬†
  • ¬†Bring¬† the¬† provisions of¬† this¬† circular¬† to¬† the¬† notice¬† of¬† the¬† members¬† of¬† the Exchange and also to disseminate the same on their website,¬†
  • ¬†Communicate to SEBI, the status of the implementation of the provisions of this Circular.¬†

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