https://www.taxtmi.com/circulars?id=60740 Exchanges must vest adequate financial authority in Executive Directors, with the Governing Board fixing cheque signing limits for executives and higher value authorizations reserved to authorized office bearers. Because brokers are barred from office bearer positions and broker directors cannot sign cheques, exchanges must expressly provide in their rules that no broker director may sign cheques or operate any bank accounts on behalf of the exchange. en-us Tue, 04 Mar 2003 00:00:00 +0530 Fri, 03 May 2019 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=60740 Exchanges must vest adequate financial authority in Executive Directors, with the Governing Board fixing cheque signing limits for executives and higher value authorizations reserved to authorized office bearers. Because brokers are barred from office bearer positions and broker directors cannot sign cheques, exchanges must expressly provide in their rules that no broker director may sign cheques or operate any bank accounts on behalf of the exchange. Circulars SEBI Tue, 04 Mar 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=60740