Transfer timing requirement obliges brokers to promptly move client funds and securities after payout, with exchanges enforcing compliance. Members must transfer funds and securities from their Pool account to clients' beneficiary accounts within one working day after the pay out day. Stock Exchanges are directed to amend bye laws, notify members, publish the requirement on websites, and report implementation status in the Monthly Development Report. The directive modifies earlier circulars and is issued under SEBI's statutory authority to protect investors and regulate the market.
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.
Transfer timing requirement obliges brokers to promptly move client funds and securities after payout, with exchanges enforcing compliance.
Members must transfer funds and securities from their Pool account to clients' beneficiary accounts within one working day after the pay out day. Stock Exchanges are directed to amend bye laws, notify members, publish the requirement on websites, and report implementation status in the Monthly Development Report. The directive modifies earlier circulars and is issued under SEBI's statutory authority to protect investors and regulate the market.
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 
