Description

ICCL issues updated Master Circular for Membership Compliance effective April 29, 2026, rescinding prior notices and existing master circular for the segment.

Summary

The Indian Clearing Corporation Limited (ICCL) has issued an updated Master Circular for Membership Compliance, updated through March 31, 2026, in accordance with SEBI’s Circular No. SEBI/HO/MRD/POD 3/CIR/P/2023/58 dated April 20, 2023. This circular consolidates all relevant membership compliance guidelines and supersedes previously issued notices and the existing master circular for the segment.

Key Points

  • ICCL has published an updated Master Circular for Membership Compliance (Annexure 1), effective April 29, 2026.
  • The circular is updated through March 31, 2026 and is available on ICCL’s website under ‘Home > Downloads > Master Circulars’.
  • All prior notices and the existing master circular relevant to this segment stand rescinded upon issuance of this circular.
  • In case of inconsistency between the master circular and any applicable notice, members should refer to the relevant notice.
  • Actions taken or rights accrued under rescinded guidelines remain valid and unaffected.

Regulatory Changes

This circular is issued pursuant to SEBI’s directive (SEBI/HO/MRD/POD 3/CIR/P/2023/58, April 20, 2023) requiring Stock Exchanges, Clearing Corporations, and Depositories to issue segment-wise master circulars. The new master circular rescinds all prior notices and the existing master circular for Membership Compliance, consolidating them into a single updated document.

Compliance Requirements

  • Members must take note of the updated Master Circular for Membership Compliance.
  • Members should refer to the Annexure 1 attached to this notice for the full consolidated circular.
  • In any conflict between the master circular and a specific applicable notice, the specific notice prevails.
  • All membership compliance obligations must now be read in the context of this updated master circular.

Important Dates

  • Circular Date: April 29, 2026
  • Effective Date: April 29, 2026 (date of issue)
  • Content Updated Through: March 31, 2026

Impact Assessment

This is an administrative consolidation circular with medium operational impact. It does not introduce new compliance requirements but consolidates existing obligations for membership compliance under ICCL. Members should review the attached Annexure 1 to ensure awareness of any changes in the consolidated text. Rights, liabilities, and penalties accrued under rescinded guidelines remain intact, ensuring continuity for ongoing matters. For clarifications, members may contact ICCL at 022-22725825 / 22725671 or iccl.membership@icclindia.com.

Impact Justification

Routine consolidation of membership compliance rules into an updated master circular; no new regulatory changes introduced, but rescinds prior notices and existing master circular for the segment.