{"id":350551,"date":"2025-06-13T14:00:42","date_gmt":"2025-06-13T08:30:42","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=350551"},"modified":"2025-06-13T13:57:10","modified_gmt":"2025-06-13T08:27:10","slug":"sebi-master-circular-commodity-derivatives-pac-meeting-frequency-revision","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2025\/06\/13\/sebi-master-circular-commodity-derivatives-pac-meeting-frequency-revision\/","title":{"rendered":"SEBI\u2019s new Guidelines for PAC meetings under Master Circular"},"content":{"rendered":"
\n

On 12-6-2025, the Securities Exchange Board of India<\/span> (\u2018SEBI<\/span>\u2019) issued \u2018Review of provisions relating to Product Advisory Committee (\u2018PAC\u2019)<\/span>\u2019 to revise provisions governing PAC in the commodity derivatives segment to streamline regulatory processes, reduce compliance burdens, and enhance market adaptability, particularly for agricultural commodities<\/span>. This circular came into force on 12-6-2025.<\/p>\n

Key Updates on SEBI’s Master Circular:<\/h3>\n
    \n
  1. \n

    SEBI through its \u2018SEBI Master Circular for Commodity Derivatives Segment<\/span>\u2019 dated 4-8-2023, mandated each stock exchange to constitute a PAC<\/span> for each group or complex of commodities that share common stakeholders or value chain participants.<\/p>\n<\/li>\n

  2. \n

    SEBI aims to bring changes into the SEBI Master Circular, to regulate the frequency of meetings held by PAC, ensuring efficient trading mechanisms, and addressing stakeholder concerns.<\/p>\n<\/li>\n

  3. \n

    The revised meeting requirements under the SEBI Master Circular<\/span> are as follows-<\/p>\n

      \n
    • \n

      For non-agricultural commodities<\/span>– PAC will meet at least twice a year<\/span> and more frequently as required.<\/p>\n<\/li>\n

    • \n

      For agricultural commodities<\/span>– PAC will meet at least once a year<\/span>, instead of the previous requirement of twice a year.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

    • \n

      To implement changes recommended by SEBI\u2019s Commodity Derivatives Advisory Committee (\u2018CDAC\u2019<\/span>), stock exchanges will be granted greater flexibility in conducting PAC meetings, considering the seasonal nature of agricultural commodities.<\/p>\n<\/li>\n

    • \n

      Stock exchanges are directed to:<\/p>\n

        \n
      • \n

        Inform their members about the revised provisions;<\/p>\n<\/li>\n

      • \n

        Disseminate the circular on their websites for public awareness.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n

      • \n

        SEBI acknowledges the unique characteristics of the markets while maintaining robust advisory mechanisms for non-agricultural commodities<\/span>, as outlined in the SEBI Master Circular.<\/p>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

        SEBI Modifies PAC meeting frequency for Commodity Markets.<\/p>\n","protected":false},"author":67525,"featured_media":316838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[83441,83439,70332,83440,83442,83437,83436,83438,83049,35318,37767,83443],"class_list":["post-350551","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-agricultural-commodities","tag-cdac","tag-financial-markets","tag-market-regulation","tag-non-agricultural-commodities","tag-pac","tag-product-advisory-committee","tag-sebi-laws","tag-sebi-master-circular","tag-securities-exchange-board-of-india","tag-stock-exchanges","tag-trading-mechanisms"],"yoast_head":"\nSEBI Master Circular for PAC Meetings | SCC Times<\/title>\n<meta name=\"description\" content=\"SEBI updates 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