Approval to act as designated depository participant requires Board sanction and depository certification before commencement of activity. Prior approval of the Board is required to act as a designated depository participant; certain existing custodians and previously approved qualified depository participants are deemed approved subject to specified fee payment. Applications must be submitted to the Board through the applicant's depository with the application fee paid as specified, and the depository must forward the application with recommendations and certification of eligibility compliance within the prescribed forwarding period.
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.
Approval to act as designated depository participant requires Board sanction and depository certification before commencement of activity.
Prior approval of the Board is required to act as a designated depository participant; certain existing custodians and previously approved qualified depository participants are deemed approved subject to specified fee payment. Applications must be submitted to the Board through the applicant's depository with the application fee paid as specified, and the depository must forward the application with recommendations and certification of eligibility compliance within the prescribed forwarding period.
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 
