Under the code of conduct framed under the SEBI (PI

The PIT code of conduct requires designated persons to obtain PRIOR PRE-CLEARANCE of proposed trades in excess of the prescribed monetary threshold - by applying for approval before executing the trade, and thereafter executing it within a limited validated period, reporting the executed trade. Pre-clearance is the operative gate ensuring that a trade is not initiated while the person is in possession of UPSI. The compliance officer evaluates the request on the immunities and the window. This pre-clearance regime is the practical compliance heart of the PIT framework.