SEBI Revises PAC Meeting Norms for Agricultural Commodities in Derivatives Segment [Read Circular]
SEBI reduced the minimum meeting requirement for Agricultural Product Advisory Committees to once a year.
![SEBI Revises PAC Meeting Norms for Agricultural Commodities in Derivatives Segment [Read Circular]](https://images.taxscan.in/h-upload/2025/06/13/2043907-sebi-revises-pac-meeting-agricultural-commodities-derivatives-segment-taxscan.jfif "SEBI Revises PAC Meeting Norms for Agricultural Commodities in Derivatives Segment [Read Circular]")
SEBI reduced the minimum meeting requirement for Agricultural Product Advisory Committees to once a year. The Securities and Exchange Board of India (SEBI) issued a Circular dated 12th June 2025, announcing a revision in the meeting frequency requirements for Product Advisory Committees (PACs) dealing with agricultural commodities in the commodity derivatives segment.Step by Step Handbook...
SEBI reduced the minimum meeting requirement for Agricultural Product Advisory Committees to once a year. The Securities and Exchange Board of India (SEBI) issued a Circular dated 12th June 2025, announcing a revision in the meeting frequency requirements for Product Advisory Committees (PACs) dealing with agricultural commodities in the commodity derivatives segment.
As per the revised guideline, PACs related to agricultural commodities are now required to meet at least once a year, instead of the earlier mandate of twice a year. For all other commodities, the existing requirement of a minimum of two meetings annually remains unchanged. The change is effective immediately.
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The amendment modifies paragraph 2.4.4.i of SEBI’s Master Circular for Commodity Derivatives Segment, issued on August 4, 2023, which mandates that stock exchanges must constitute PACs for each commodity group or complex traded or proposed to be traded. These committees are formed to ensure the active involvement of stakeholders across the value chain.
The revision follows representations from market participants and discussions within SEBI’s Commodity Derivatives Advisory Committee (CDAC). It is aimed at reducing the compliance burden for agri-commodity-focused exchanges while ensuring continued market consultation.
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Implementation and Compliance
Stock exchanges hosting a commodity derivatives segment have been instructed to:
- Inform their members about the revised norms.
- Publish the circular prominently on their respective websites.
This circular is issued under the authority granted to SEBI under Section 11(1) of the SEBI Act, 1992, to protect investor interests, develop the securities market, and ensure efficient regulation.
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