Securities and Exchange Board of India (SEBI)

Subject: Investor Protection Fund (IPF) of Depositories

1. The Depository System Review Committee (DSRC) had examined various aspects of the depository IPF including utilization and investment policy of IPF and quantum of funds to be transferred to IPF. The Expert Committee on Clearing Corporations also deliberated the issue with regard to quantum of funds to be transferred by the Depositories to their IPF.
2. Based on recommendations of DSRC and Expert Committee on Clearing Corporations, the following guidelines are being issued with regard to IPF of the Depositories.
   1. Utilization of the IPF
   2. Constitution and Management of the IPF
   3. Contribution to the IPF
   4. Investments of Fund
3. The Depositories shall implement the provisions of this circular within three months from the date of issuance of this circular.