Registration of sub-brokers: application, verification and eligibility conditions govern affiliation and forwarding to the Board.

Registration of sub-brokers requires submission of specified application and recommendation forms through the sponsoring stock-broker to the stock exchange, which verifies information, certifies eligibility, and forwards the application and recommendation to the Board. Eligibility includes minimum age, absence of convictions for fraud or dishonesty, prescribed educational standards (subject to possible relaxation), fit and proper status, adequate infrastructure, and formal recognition by the stock exchange as affiliated to a member broker.

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