Registration of stock brokers required; applications via member stock exchange must be forwarded to the Board and registration enables underwriting. No person may act as a stock broker without obtaining a certificate of registration from the Board; clearing members and brokers already registered for one exchange are not required to obtain separate registration to operate in other exchanges of which they are members, subject to the concerned exchange's approval. Applications must be submitted in Form A of Schedule I through the member stock exchange, which must forward the application to the Board as early as possible and within thirty days of receipt. A validly registered stock broker is entitled to act as an underwriter.
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.
Registration of stock brokers required; applications via member stock exchange must be forwarded to the Board and registration enables underwriting.
No person may act as a stock broker without obtaining a certificate of registration from the Board; clearing members and brokers already registered for one exchange are not required to obtain separate registration to operate in other exchanges of which they are members, subject to the concerned exchange's approval. Applications must be submitted in Form A of Schedule I through the member stock exchange, which must forward the application to the Board as early as possible and within thirty days of receipt. A validly registered stock broker is entitled to act as an underwriter.
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 
