Restriction on members acting as principals: consent and disclosure required; non written consent must be confirmed in writing. Section 15 bars a recognised stock exchange member from contracting as a principal with a non member unless the non member consents and the member discloses his principal capacity in the transaction document; non written consent must be confirmed in writing within three days, while closing out outstanding bye law contracts may be done without prior written consent if the member discloses he is acting as principal.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Restriction on members acting as principals: consent and disclosure required; non written consent must be confirmed in writing.
Section 15 bars a recognised stock exchange member from contracting as a principal with a non member unless the non member consents and the member discloses his principal capacity in the transaction document; non written consent must be confirmed in writing within three days, while closing out outstanding bye law contracts may be done without prior written consent if the member discloses he is acting as principal.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
