Base Minimum Capital deposit requirement for Category 2 execution-only platforms established, with non-additive segment application. Category 2 Execution Only Platforms, registered as stock brokers and acting as agents of investors for direct mutual fund transactions, are required to maintain a Base Minimum Capital (BMC) deposit with the stock exchange; for members with multiple segment registrations on the same exchange the BMC is non-additive and the highest applicable BMC across segments applies. The circular modifies earlier SEBI BMC prescriptions, leaves other BMC provisions intact, and directs immediate implementation with stock exchanges required to update systems, amend relevant bye-laws, and disseminate the change.
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.
Base Minimum Capital deposit requirement for Category 2 execution-only platforms established, with non-additive segment application.
Category 2 Execution Only Platforms, registered as stock brokers and acting as agents of investors for direct mutual fund transactions, are required to maintain a Base Minimum Capital (BMC) deposit with the stock exchange; for members with multiple segment registrations on the same exchange the BMC is non-additive and the highest applicable BMC across segments applies. The circular modifies earlier SEBI BMC prescriptions, leaves other BMC provisions intact, and directs immediate implementation with stock exchanges required to update systems, amend relevant bye-laws, and disseminate the change.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
