The Securities and Exchange Board of India vide its notification dated 8th July 2021 has decided, in consultation with the Stock Exchanges, to reduce the number of days of advance intimation for all the three categories i.e. Category A, Category B and Category C, to 10 days.
SEBI has earlier notified the procedure for carrying out modifications in the contract specifications of commodity derivatives contracts. Based on their materiality, the contract modifications are categorized into Category A, Category B, and Category C and the permission to modify contract specifications is subject to the condition that before the introduction of any modification, the Stock Exchanges shall inform SEBI and market participants along with reasons for the modifications. The advance intimation timelines are 10 days for Category A and 30 days for Category B and Category C contract modifications.
However through this notification, in order to bring in uniformity while giving effect to the contract modifications, it has decided to reduce the number of days of advance intimation for all three categories to 10 days.