jftLVªh la- Mh,y¼,u½&04@0007@2003—05

REGISTERED No. DL(N)–04/0007/2003—05

lR;eso t;rs

1—420 GI/2014

(35)

NOTICE

NO LEGAL RESPONSIBILITY IS ACCEPTED FOR

THE PUBLICATION OF ADVERTISEMENTS/PUBLIC

NOTICES IN THIS PART OF THE GAZETTE OF INDIA.

PERSONS NOTIFYING THE ADVERTISEMENTS/PUBLIC

NOTICES WILL REMAIN SOLELY, RESPONSIBLE FOR THE

LEGAL CONSEQUENCES AND ALSO FOR ANY OTHER

MISREPRESENTATION ETC.

BY ORDER

Controller of Publication

lkIrkfgd@WEEKLY

çkfèdkj ls çdkf'kr

PUBLISHED BY AUTHORITY

la- 3]

ubZ fnYyh] 'kfuokj] tuojh 17—tuojh 23] 2015 ¼ikS"k 27] 1936½

No. 3]

NEW DELHI, SATURDAY, JANUARY 17—JANUARY 23, 2015 (PAUSA 27, 1936)

bl Hkkx esa fHkUu i`"B la[;k nh tkrh gS ftlls fd ;g vyx ladyu ds :i esa j[kk tk lds

(Separate paging is given to this Part in order that it may be filed as a separate compilation)

Hkkx IV

[PART IV]

[xSj-ljdkjh O;fDr;ksa vkSj xSj-ljdkjh laLFkkvksa ds foKkkiu vkSj lwpuk,a]

[Advertisements and Notices issued by Private Individuals and Private Bodies]

——————

PUBLIC NOTICE

It is for general information that I YADVINDER KUM9AR

Son of Sh. RAMPHAL Residing at H.No.16B, Block D, Gali

No. 9/6, Shyam Vihar, Ph-I, Najafgarh, New Delhi-43 declare

that name of mine has been wrongly written as YADVINDER

KUMAR VASHIST in my son's MOHIT KUMAR VASHIST

10th and 12th educational documents and in the other

documents. The actual name of mine is YADVINDER

KUMAR respectively, which may be amended accordingly.

It is certified that I have complied with other legal

requirements in this connection.

YADVINDER KUMAR

[Signature of Applicant]

It is for general information that I KAMALJEET Wife of

RAMESH CHANDER residing at A-112, Rajeev Nagar,

Begampur, Delhi-110086 declare that name of mine has been

wrongly written as KAMALJEET KAUR in my son's

NEERAJ KUMAR 10th &12th educational documents and in

the other documents. The actual name of mine is KAMALJEET

respectively which may be amended accordingly.

It is certified that I have complied with other legal

requirements in this connection.

KAMALJEET

[Signature of Applicant]

————

It is general information that I RAJESH KUMAR son of

Late SHRI CHARANJIT LAL residing at A-246, gali no-13,

shyam colony, budh vihar phase-2, Delhi-110086 declare

that name of my father has been wrongly written as

SH C LAL in my driving license and in the other document.

The actual name of my father is Late SHRI CHARANJIT

LAL respectively, which may be amended accordingly.

It is certified that I have complied with other legal

requirements in this connection.

RAJESH KUMAR

[Signature of Applicant]

THE GAZETTE OF INDIA, JANUARY 17, 2015 (PAUSA 27, 1936)

[PART IV

us'kuy flD;ksfjVht Dyh;fjax dkjiksjs'ku fyfeVsM

eqacbZ&400051

izfrHkwfr lafonk ¼fofu;e½ fu;e] 1957 ds fu;e 18 dh vis{kkvksa ds vuqlkj us'kuy flD;ksfjVht Dyh;fjax dkjiksjs'ku

fyfeVsM dh mi&fof/k;ksa ds ¼¶;wpj ,aM vkI”ku [kaM½ izLrkfor la'kks/ku] tSlkfd uhps fn, x, gSa] lkekU; [kaM vf/kfu;e] 1897

dh /kkjk 23 ds izko/kkuksa ds vuqlkj vkykspuk ds fy, Hkkjr ds 'kkldh; jkti= esa izdkf'kr fd, tkrs gSaA mi&fof/k;ksa ¼¶;wpj

,aM vkI”ku [kaM½ ds fy, izLrkfor la'kks/kuksa ij fdUgha izs{k.kksa dks j[kus okyk dksbZ O;fDr bls fyf[kr esa v/kksgLrk{kjh dks jkti=

esa bl izdk'ku dh rkjh[k ls iUnzg fnu ds vanj ,Dlpsat Iyktk] IykV lh&1] Cykd&th] ckanzk&dqykZ dkEIysDl] ckanzk ¼iwoZ½]

eqacbZ&400 051 dks Hkst ldrk gSA 15 fnu dh mijksDr vof/k ds i'pkr izkIr izs{k.kksa ij izLrkfor la'kks/kuksa ij fopkj djrs le;

/;ku esa ugha j[kk tk,xkA

1- ;g izLrko gS fd ekStwnk laiw.kZ v/;k;&XII dks fuEufyf[kr u, v/;k;&XII ds lkFk izfrLFkkfir fd;k tk, %

m)j.k fpUg 'kq:

v/;k;&XII % ewyHkwr fuiVku xkjaVh fuf/k

1- ewyHkwr fuiVku xkjaVh fuf/k ¼lh,lth,Q½ dk mís';

Dyh;fjax dkjiksjs'ku ds ikl fofufnZ"V LVkd ,Dlpsat ds lacaf/kr [kaM esa fu"iUu lkSnksa dh fuiVku xkjaVh ds fy,

fofufnZ"V LVkd ,Dlpsat ds izR;sd [kaM ds laca/k esa izR;sd Dyh;fjax [kaM ds fy, ewyHkwr fuiVku xkjaVh fuf/k

¼lh,lth,Q½ uked fuf/k gksxhA fdlh Dyh;fjax lnL; ds fuiVku nkf;Roksa dks iwjk djus esa vleFkZ jgus dh n'kk esa

lh,lth,Q dk iz;ksx Dyh;fjax lnL; ds fuiVku nkf;Roksa dks iwjk djus ds fy, fd;k tk,xk vkSj fuiVku dks lkekU;

fuiVku izfØ;k dks izHkkfor fd, fcuk iwjk fd;k tk,xkA

2- lh,lth,Q dk dkiZl

lh,lth,Q dk dkiZl fdlh Dyh;fjax lnL;¼;ksa½ dh vleFkZrk ds dkj.k mBus okyh lHkh vkdfLedrkvksa dks iwjk

djus ds fy, i;kZIr gksxkA

lh,lth,Q ds dkiZl dh ek=k] VªsM ifjek.k] fMyhojh izfr'kr] Dyh;fjax lnL; dh vf/kdre fuiVku nsunkjh]

Dyh;fjax lnL;ksa dh pwd dk bfrgkl] Dyh;fjax lnL;ksa dh iwath i;kZIrrk vkSj Dyh;fjax dkjiksjs'ku }kjk iz;qDr

lqj{kk mik;ksa dh lhek lfgr fofHkUUk dkjdksa ds dkj.k lh,lth,Q ds tksf[ke ;k nsunkjh dks /;ku esa j[krs gq,

fu/kkZfjr dh tk,xhA lh,lth,Q ds dkiZl dh mfpr ek=k dk fu/kkZj.k djus ds mís'; ls Dyh;fjax dkjiksjs'ku

fuEufyf[kr dkjdksa ij fopkj djsxk %

¼d½ ykxw tksf[ke izca/k iz.kkyh

¼[k½ xkjaVh ds vk/kkj ij Dyh;fjax dkjiksjs'ku }kjk pkyw vkSj iwokZuqekfur ifjek.k@dkjksckj ftls lek'kksf/kr vkSj

fuiVk;k tkuk gSA

¼x½

Dyh;fjax lnL;ksa dh pwd dk VªSd fjdkMZ ¼Dyh;fjax lnL;ksa dh pwd dh la[;k vkSj pwd dh jkf'k½A

3- lh,lth,Q dk U;wure visf{kr dkiZl

lac) izkf/kdkjh le;≤ ij lsch }kjk fofu/kkZfjr ekunaMksa ds vuqlkj fofufnZ"V LVkd ,Dlpsat esa izR;sd [kaM ds laca/k

esa Dyh;fjax dkjiksjs'ku ds izR;sd Dyh;fjax [kaM ds fy, lh,lth,Q dk U;wure visf{kr dkiZl ¼,evkjlh½ le;≤

ij fufnZ"V djsxkA

4- lh,lth,Q ds dkiZl dk xBu

lh,lth,Q ds dkiZl esa fuEufyf[kr 'kkfey gksxk %

¼d½

fofHkUu va'knkrkvksa ds va'knku lh,lth,Q ds fy, fofHkUu va'knkrkvksa ds va'knku le; ds fdlh fcanq ij

fuEukuqlkj gksaxs %

(i)

Dyh;fjax dkjiksjs'ku dk va'knku % lh,lth,Q ds fy, Dyh;fjax dkjiksjs'ku dk va'knku ,evkjlh dk de ls

de 50 izfr'kr gksxkA Dyh;fjax dkjiksjs'ku bl va'knku dks viuh Lo;a dh fuf/k;ksa ls djsxhA lh,lth,Q ds

fy, Dyh;fjax dkjiksjs'ku dk va'knku blds fuoy ewY; ds Hkkx ds :i esa ekuk tk,xkA

PART IV]

THE GAZETTE OF INDIA, JANUARY 17, 2015 (PAUSA 27, 1936)

(ii)

fofufnZ"V LVkd ,Dlpsat dk va'knku % lh,lth,Q ds fy, fofufnZ"V LVkd ,Dlpsat dk va'knku de ls de

25 izfr'kr gksxkA ,sls va'knku dks izfrHkwfr lafonk ¼fofu;e½ LVkWd ,Dlpsat vkSj Dyh;fjax½ fofu;e] 2012

¼,lbZlhlh fofu;e½ ds fofu;e 33 ds vuqlkj fofufnZ"V LVkd ,Dlpsat }kjk ykHk ds varj.k ds fo#)

lek;ksftr fd;k tk ldrk gSA

(iii)

Dyh;fjax lnL; dk izkFkfed va'knku % Dyh;fjax dkjiksjs'ku fuEufyf[kr 'krksZa ds v/;/khu lh,lth,Q ds

fy, Dyh;fjax [kaM ds Dyh;fjax lnL; ls tksf[ke vk/kkfjr va'knku izkIr dj ldrk gS %

•

Dyh;fjax lnL;ksa ls dqy va'knku ,evkjlh ds 25 izfr'kr ls vf/kd ugha gksxkA ,slk va'knku

lkekU;r% lh,lth,Q ds fy, udn va'knku ds :i esa gksxkA rFkkfi] Dyh;fjax dkjiksjs'ku

le;≤ ij lsch }kjk fofu/kkZfjr ekunaMksa ds vuqlkj cSad fe;knh tek ds :i esa Dyh;fjax lnL;

dk va'knku Lohdkj dj ldrk gSA

•

fdlh lnL; ds lh,lth,Q va'knku ij dksbZ izdVu miyC/k ugha gksxkA bl iz;kstu ds fy,]

Dyh;fjax dkjiksjs'ku ds ikl miyC/k Dyh;fjax lnL; ds izdVu&eqDr laikf'Zod dks Dyh;fjax

lnL; ds lh,lth,Q va'knku ds izfr ekuk tk ldrk gSA

•

izR;sd Dyh;fjax lnL; dk visf{kr va'knku iz.kkyh esa tks tksf[ke ds ykrs gSa] ds vkuqikfrd vk/kkj

ij gksxkA

•

Dyh;fjax dkjiksjs'ku ds ikl Dyh;fjax lnL; ds va'knku dks ;k rks igys ;k le; dh vof/k ds

nkSjku Øec) <ax ls olwy djus ds fy, yphykiu gksxkA Øec) va'knku ds ekeys esa cpk gqvk

'ks"k Dyh;fjax dkjiksjs'ku }kjk iwjk fd;k tk,xk rkfd lHkh le; dqy lh,lth,Q dh i;kZIrrk dks

lqfuf'pr fd;k tk ldsA Dyh;fjax dkjiksjs'ku dk ,slk va'knku Dyh;fjax lnL;ksa ls vksj va'knku

izkIr gksus ij fudklh ds fy, Dyh;fjax dkjiksjs'ku dks miyC/k gksxkA

¼[k½ Dyh;fjax dkjiksjs'ku }kjk yxk;k tkus okyk dksbZ naM ¼,lbZlhlh fofu;eksa ds fofu;e 34 ds vuqlkj½A

¼x½

lh,lth,Q dks udn va'knku ij C;kt lh,lth,Q dks izkIr gksxk vkSj va'knkrkvksa dks muds udn va'knku

ds fy, vuqikr esa vkuqikfrd vk/kkj ij Bgjk;k tk,xkA

5- lh,lth,Q dk izca/k

¼1½ Dyh;fjax dkjiksjs'ku dh pwddrkZ lfefr@,lth,Q mi;ksx lfefr lh,lth,Q dk izca/k djsxhA

¼2½

Dyh;fjax dkjiksjs'ku lh,lth,Q dkiZl ds fy, fuos'k uhfr ds foosdiw.kZ ekunaMksa dk ikyu djsxk vkSj

le;≤ ij lsch }kjk fofu/kkZfjr fuos'k ekunaMksa ds vuqlkj lh,lth,Q dkiZl ds fuos'k dks lqfuf'pr djus

ds fy, uhfr;ka vkSj izfØ;k,a rS;kj vkSj dk;kZfUor djsxkA

6- lh,lth,Q ds fy, igqap

Dyh;fjax dkjiksjs'ku Dyh;fjax lnL;ksa dh vleFkZrk dh n'kk esa muds fuiVku nkf;Roksa dks iwjk djus ds fy,

lh,lth,Q dk mi;ksx dj ldrk gSA

7- lh,lth,Q dks vkSj va'knku@okilh

¼1½ fdlh eghus ds fy, fofHkUu va'knkudrkZvksa }kjk lh,lth,Q dks visf{kr va'knku va'knkudrkZvksa }kjk eghus ds

'kq: gksus ls igys fd;k tk,xkA

¼2½

Dyh;fjax dkjiksjs'ku mijksDrkuqlkj fofHkUu va'knkudrkZvksa }kjk fd, x, va'knkuksa dh i;kZIrrk dh izR;sd eghus

dh 15 rkjh[k rd leh{kk vkSj fu/kkZj.k djsxk vkSj vxys eghus ds fy, fofHkUu va'knkudrkZvksa }kjk fd, tkus

okys ;Fkk visf{kr lh,lth,Q ds fy, vkSj fdUgha va'knkuksa dh ekax dj ldrk gSA

¼3½

fdlh dSysaMj ekg ds nkSjku lh,lth,Q ds iz;ksx dh n'kk esa va'knkudrkZ muds O;fDrxr va'knku ds iz;ksx ds

vuqlkj lh,lth,Q ds fy, ,evkjlh dh iqu%iwfrZ djsaxsA

¼4½

dqN va'knkudrkZ ¼vksa½ dh vksj ls blds ¼muds½ va'knku dh iqu%iwfrZ esa vleFkZrk ds ekeys esa] mls fuEufyf[kr

Øe esa eghus ds nkSjku vLFkk;h vk/kkj ij rRdky iwjk fd;k tk,xk %

¼d½ Dyh;fjax dkjiksjs'ku }kjk

¼[k½ fofufnZ"V LVkd ,Dlpsat }kjk

THE GAZETTE OF INDIA, JANUARY 17, 2015 (PAUSA 27, 1936)

[PART IV

8- pwd izikr

pwd izikr dsoy rHkh iz;ksT; gksxk ;fn Dyh;fjax lnL; ds pwddrkZ Dyh;fjax lnL; dh /kujkf'k;ksa ds fofu;kstu ds

i'pkr pwddrkZ ?kksf"kr fd;k tkrk gSA

fdlh Dyh;fjax [kaM ds fy, Dyh;fjax dkjiksjs'ku pwd izikr lkekU;r% fuEufyf[kr Øe dk ikyu djsxk %

¼d½

pwddrkZ Dyh;fjax lnL; dh /kujkf'k;ka ¼ftlesa pwddrkZ lnL; dk lh,lth,Q ¼,l½ ds izkFkfed va'knku

vkSj vU; Dyh;fjax [kaMksa esa pwddrkZ Dyh;fjax lnL; dh vfrfjDr /kujkf'k;ka 'kkfey gSa½A

¼[k½

chek] ;fn dksbZ gksA

¼x½

Dyh;fjax dkjiksjs'ku ds lalk/ku ¼Dyh;fjax [kaM ,evkjlh ds 5 izfr'kr ds cjkcj½A

¼?k½

Dyh;fjax [kaM dk lh,lth,Q fuEufyf[kr Øe esa %

(i)

naM

(ii)

Dyh;fjax dkjiksjs'ku dk va'knku Dyh;fjax [kaM ,evkjlh ds de ls de 25 izfr'kr dh lhek rd

(iii)

'ks"k lh,lth,Q % Dyh;fjax dkjiksjs'ku dk va'knku] fofufnZ"V LVkd ,Dlpsat dk va'knku vkSj

xSj&pwddrkZ Dyh;fjax lnL;ksa dk vkuqikfrd vk/kkj ij lh,lth,Q ds fy, izkFkfed va'knkuA

¼M-½

'ks"k Dyh;fjax dkjiksjs'ku lalk/kuksa dk vuqikr ¼Dyh;fjax dkjiksjs'ku dk vU; Dyh;fjax [kaMksa dk lh,lth,Q

ds fy, va'knku vkSj 100 djksM+ Hkkjrh; #i, NksM+dj½ lHkh Dyh;fjax [kaMksa ds ,evkjlh ds ;ksx ds fy,

Dyh;fjax [kaM ,evkjlh ds vuqikr ds cjkcj*A

¼p½

vU; Dyh;fjax [kaMksa dk lh,lth,Q dks Dyh;fjax dkjiksjs'ku@fofufnZ"V LVkd ,Dlpsat dk va'knku ¼mu

Dyh;fjax [kaMksa ds nkf;Roksa dks iwjk djus ds i'pkr½ vkSj ml lhek rd 'ks"k Dyh;fjax dkjiksjs'ku ds lk/ku

tSlkfd lsch }kjk vuqeksfnr fd, tkrs gSaA

¼N½

Dyh;fjax [kaM ds xSj&pwddrkZ Dyh;fjax lnL;ksa }kjk mPpre lhek rd vfrfjDr va'knku**A

¼t½

fdlh 'ks"k gkfu dks is&vkmV esa vkuqikfrd dVkSrh }kjk doj fd;k tk,xk***A

Li"Vhdj.k %

*100 djksM+ Hkkjrh; #i;ksa dh rHkh NksM+k tk,xk tc 'ks"k Dyh;fjax dkjiksjs'ku lalk/ku ¼vU; Dyh;fjax [kaMksa

ds lh,lth,Q ds fy, Dyh;fjax dkjiksjs'ku ds va'knku dks NksM+dj½ 100 djksM+ Hkkjrh; #i;ksa ls vf/kd gSaA

**Dyh;fjax dkjiksjs'ku xSj&pwddrkZ Dyh;fjax lnL; ds fy, vfrfjDr va'knku dks lh,lth,Q ds fy,

muds visf{kr izkFkfed va'knku ds xq.kd rd lhfer djsxk vkSj bl laca/k esa <kapk izdV fd;k tk,xkA

xSj&pwddrkZ Dyh;fjax lnL;ksa ls ewY;kafdr jkf'k;ksa dh olwyh esa dHkh ds ekeys esa vkSj gkfu dks lsch ds

vuqeksnu ls ijr ^^p^^ dks vkcafVr fd;k tk ldrk gSA

***;fn gkfu vkcaVu dks is&vkmV dh dVkSrh ds ek/;e ls fd;k tkrk gS rks fuf/k;ksa dk ckn esa mi;ksx lsch

ds iwoZ vuqeksnu ls gksxkA blds vykok] Dyh;fjax dkjiksjs'ku iksLV }kjk bl ijr dk iz;ksx djds dksbZ

fudkl yksd fgr esa lsch }kjk fu.kZ; dh xbZ 'krksZa ds vuqlkj gksxkA

9- ncko tkap vkSj cSd tkap

Dyh;fjax dkjiksjs'ku] ØsfMV tksf[ke] udnh ncko tkap] foijhr ncko tkap ds fy, ncko tkap vkSj ekftZuksa dh i;kZIrrk

ds fy, cSd tkap vkSj ,slh vU; tkap tks le;≤ ij lsch }kjk fofu/kkfjr ekunaMksa ds vuqlkj mi;qDr gksa] djsxkA

m)j.k fpUg can

2- mi;qZDr ds ifj.kkeLo:i] ;g izLrko gS fd fuEu esa ^^fuiVku fuf/k^^ ;k ^^fuiVku xkjaVh fuf/k^^ ;k ^^,lth,Q^^ 'kCn dks

^^ewyHkwr fuiVku xkjaVh fuf/k^^ 'kCn }kjk izfrLFkkfir fd;k tk,A

(i)

,u,llhlh,y mi&fof/k;ksa ¼¶;wpj ,aM vkI”ku [kaM½ ds v/;k; I dh mi&fof/k 17 vkSj v/;k;&IV dh

mi&fof/k 2¼13½(

PART IV]

THE GAZETTE OF INDIA, JANUARY 17, 2015 (PAUSA 27, 1936)

(ii)

,u,llhlh,y fu;e ¼¶;wpj ,aM vkI”ku [kaM½ ds v/;k; I dk fu;e 10] v/;k;&IV dk fu;e 5¼5½] 11 vkSj

12 rFkk v/;k;&V dk fu;e 5 ( vkSj

(iii)

,u,llhlh,y ¼¶;wpj ,aM vkI”ku [kaM½ fofu;e ds v/;k; 5d dk fofu;e 5d] 4-1-2-2-d ¼4½ vkSj v/;k; 6

dk fofu;e 6-14A

d`rs us'kuy flD;ksfjVht Dyh;fjax dkjiksjs'ku fyfeVsM

vkj- t;dqekj

daiuh lfpo

fVIi.kh % fgUnh ikB esa varj dh n'kk esa vaxzsth ikB vfHkHkkoh gksxkA

ÑÑÑÑÑÑÑÑÑÑÑÑÑÑÑÑ

NATIONAL SECURITIES CLEARING CORPORATION LIMITED

Mumbai – 400051

As per the requirements of Rule 18 of Securities Contracts (Regulation) Rules, 1957, the proposed amendments to the

Byelaws (Futures & Options segment) of the National Securities Clearing Corporation Limited, as given hereunder, is

published for criticism in accordance with the provisions of Section 23 of the General Clauses Act, 1897 in the official

Gazette of India. Any person having any observations on the proposed amendments to the Byelaws (Futures & Options

segment) can send the same in writing to the undersigned at Exchange Plaza, Plot C-1, Block G, Bandra–Kurla Complex,

Bandra (East), Mumbai – 400 051 within fifteen days from the date of this publication in the Gazette. The observations

received after the aforementioned period of 15 days will not be considered when the proposed amendments will be taken for

consideration.

1. It is proposed to substitute the entire existing Chapter XII with the following new Chapter XII:-

Quote

CHAPTER XII: CORE SETTLEMENT GUARANTEE FUND

1. Objective of the Core Settlement Guarantee Fund (CSGF)

The Clearing Corporation shall have a fund called Core Settlement Guarantee Fund (CSGF) for each clearing

segment with respect to each segment of the Specified Stock Exchange to guarantee the settlement of trades

executed in the respective segment of the Specified Stock Exchange. In the event a Clearing Member fails to fulfil

the settlement obligations, the CSGF shall be used to fulfil the settlement obligations of the Clearing Member and

complete the settlement without affecting the normal settlement process.

Corpus of the CSGF

(1) The corpus of the CSGF shall be adequate to meet out all the contingencies arising on account of failure of

any Clearing Member(s).

(2) The quantum of the corpus of the CSGF shall be determined by taking into consideration the risk or liability

to the CSGF on account of various factors including trade volume, delivery percentage, maximum settlement

liability of the Clearing Members, the history of defaults of the Clearing Members, capital adequacy of the

Clearing Members and the degree of safety measures employed by the Clearing Corporation. In order to

assess the fair quantum of the corpus of the CSGF, the Clearing Corporation shall consider the following

factors:

Risk management system in force

Current and projected volume/turnover to be cleared and settled by the Clearing Corporation on

guaranteed basis

Track record of defaults of the Clearing Members (number of defaults and amount in default of the

Clearing Members)

Minimum Required Corpus of the CSGF

The Relevant Authority shall specify from time to time the Minimum Required Corpus (MRC) of the CSGF for

each clearing segment of the Clearing Corporation with respect to each segment of the Specified Stock Exchange

in accordance with the norms prescribed by SEBI from time to time.

THE GAZETTE OF INDIA, JANUARY 17, 2015 (PAUSA 27, 1936)

[PART IV

Constitution of the Corpus of CSGF

The corpus of CSGF shall consist of the following:

Contributions of various contributors:

The contributions of various contributors to the CSGF at any point of time shall be as follows:

Clearing Corporation’s contribution: The Clearing Corporation’s contribution to CSGF shall be at least

50% of the MRC. The Clearing Corporation shall make this contribution from its own funds. The

Clearing Corporation’s contribution to CSGF shall be considered as part of its net worth.

ii.

Specified Stock Exchange’s contribution: The Specified Stock Exchange’s contribution to CSGF shall

be at least 25% of the MRC. Such contribution can be adjusted against the transfer of profit by the

Specified Stock Exchange as per Regulation 33 of Securities Contracts (Regulation) (Stock Exchanges

and Clearing Corporations) Regulations, 2012 (SECC Regulations).

iii.

Clearing Member’s primary contribution: The Clearing Corporation may seek risk based contribution

from Clearing Members of the clearing segment to the CSGF subject to the following conditions:

•

The total contribution from the Clearing Members shall not be more than 25% of the MRC. Such

contribution shall ordinarily be in the form of cash contribution to CSGF. However, the Clearing

Corporation may accept the Clearing Member’s contribution in the form of bank fixed deposits

in accordance with the norms prescribed by SEBI from time to time.

•

No exposure shall be available on CSGF contribution of any Clearing Member. For this

purpose, the exposure-free collateral of the Clearing Member available with the Clearing

Corporation can be considered towards CSGF contribution of the Clearing Member.

•

The required contribution of each Clearing Member shall be pro-rata based on the risk that they

bring to the system.

•

The Clearing Corporation shall have the flexibility to collect the Clearing Member’s primary

contribution either upfront or staggered over a period of time. In case of staggered contribution,

the remaining balance shall be met by the Clearing Corporation to ensure adequacy of total

CSGF corpus at all times. Such Clearing Corporation contribution shall be available to the

Clearing Corporation for withdrawal as and when further contributions from the Clearing

Members are received.

Any penalties levied by the Clearing Corporation (as per Regulation 34 of SECC Regulations.)

Interest on cash contribution to CSGF shall accrue to the CSGF and pro-rata attributed to the contributors in

proportion to their cash contribution.

Management of CSGF

(1) The Defaulters’ Committee/SGF utilization Committee of the Clearing Corporation shall manage the CSGF.

(2) The Clearing Corporation shall follow prudential norms of investment policy for the CSGF corpus and

establish and implement policies and procedures to ensure that the CSGF corpus is invested in accordance

with the investment norms prescribed by SEBI from time to time.

Access to CSGF

The Clearing Corporation may utilise the CSGF in the event of a failure of the Clearing Members to fulfil their

settlement obligations.

Further contribution to / Recoupment of CSGF

(1) The requisite contributions to the CSGF by various contributors for any month shall be made by the contributors

before start of the month.

(2) The Clearing Corporation shall review and determine by 15th of every month the adequacy of contributions made

by various contributors as above and call for any further contributions to the CSGF as may be required to be

made by various contributors for the next month.

PART IV]

THE GAZETTE OF INDIA, JANUARY 17, 2015 (PAUSA 27, 1936)

(3) In the event of usage of the CSGF during a calendar month, the contributors shall, as per usage of their individual

contribution, immediately replenish the CSGF to MRC.

(4) In case there is failure on part of some contributor(s) to replenish its (their) contribution, the same shall be

immediately met, on a temporary basis during the month, in the following order:

a) By Clearing Corporation

b) By Specified Stock Exchange

Default waterfall

The Default waterfall shall become applicable only in case the Clearing Member is declared a defaulter after

appropriation of the monies of the defaulting Clearing Member.

The default waterfall of the Clearing Corporation for any clearing segment shall generally follow the following

order –

Monies of the defaulting Clearing Member (including the defaulting Clearing Member's primary contribution

to the CSGF(s) and excess monies of the defaulting Clearing Member in other clearing segments.)

Insurance, if any.

Clearing Corporation resources (equal to 5% of the clearing segment MRC).

CSGF of the clearing segment in the following order:

Penalties

ii.

Clearing Corporation’s contribution to the extent of at least 25% of the clearing segment MRC

iii.

Remaining CSGF: Clearing Corporation’s contribution, Specified Stock Exchange’s contribution and

non-defaulting Clearing Members’ primary contribution to CSGF on pro-rata basis.

Proportion of remaining Clearing Corporation resources (excluding Clearing Corporation’s contribution to

CSGFs of other clearing segments and INR 100 Crore) equal to ratio of clearing segment MRC to sum of

MRCs of all clearing segments.*

Clearing Corporation/Specified Stock Exchange contribution to CSGF of other clearing segments (after

meeting obligations of those clearing segments) and remaining Clearing Corporation resources to that extent

as approved by SEBI.

Capped additional contribution by non-defaulting Clearing Members of the clearing segment.**

Any remaining loss to be covered by way of pro-rata haircut to pay-outs. ***

Explanation

* INR 100 Crore to be excluded only when remaining Clearing Corporation resources (excluding Clearing

Corporation contribution to CSGFs of other clearing segments) are more than INR 100 Crore.

**Clearing Corporation shall limit the liability of non-defaulting Clearing Members towards additional

contribution to a multiple of their required primary contribution to CSGF and the framework regarding the

same shall be disclosed. In case of shortfall in recovery of assessed amounts from non-defaulting Clearing

Members, further loss can be allocated to layer 'f' with approval of SEBI.

***In case loss allocation is effected through haircut to payouts, any subsequent usage of funds shall be with

prior SEBI approval. Further, any exit by Clearing Corporation post using this layer shall be as per the terms

decided by SEBI in public interest.

Stress Testing and Back Testing

The Clearing Corporation shall conduct stress tests for credit risk, liquidity stress test, reverse stress test, back testing

for adequacy of margins and such other tests as may be appropriate in accordance with the norms prescribed by SEBI

from time to time.

THE GAZETTE OF INDIA, JANUARY 17, 2015 (PAUSA 27, 1936)

[PART IV

Unquote

2. As a consequence of the above, it is proposed to substitute the term ‘Settlement Fund’ or ‘Settlement Guarantee Fund’

or ‘SGF’ with the term ‘Core Settlement Guarantee Fund’ in

(i)

Byelaw 17 of Chapter 1 and Byelaw 2(13) of Chapter IV of NSCCL Byelaws (Futures & Options segment);

(ii)

Rule 10 of Chapter 1, Rules 5(5), 11 and 12 of Chapter IV and Rule 5 of Chapter V of NSCCL Rules (Futures

& Options segment); and

(iii)

Regulation 5A 4.1.2.2.A(4) of Chapter 5A and Regulation 6.14 of Chapter 6 of NSCCL (Futures & Options

Regulations.

For National Securities Clearing Corporation Limited

R. Jayakumar

Company Secretary

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PRINTED BY DIRECTORATE OF PRINTING AT GOVERNMENT OF INDIA PRESS,

N.I.T. FARIDABAD AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI, 2015

www.dop.nic.in

DOPGIPF—[PART IV]—115 + 25=140 Copies.