Section 51 in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
51. Wind-down Plan.
- Every depository shall devise and maintain a wind-down plan in accordance with guidelines specified by the Board.Explanation. - For the purpose of this regulation, 'wind-down plan' means a process or plan of action employed, for transfer of the beneficial owner accounts and other two operational powers of the depository to an alternative institution that would take over the operations of the depository in scenarios such as erosion of net-worth of the depository or its insolvency or its inability to provide critical depository operations or services.
