TaxTMI 
TaxTMI 
Execution of Power of Attorney (PoA) by the Client in favour of the Stock Broker/ Stock Broker and Depository Participant - Clarifications
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....r of Attorney (PoA) by the Client in favour of the Stock Broker/ Stock Broker and Depository Participant - Clarifications 1. SEBI vide circular no. CIR/MRD/DMS/13/2010 dated April 23, 2010 issued guidelines regarding execution of Power of Attorney (PoA) by the client in favor of Stock Broker / Stock Broker and Depository Participant. 2. SEBI has received representation from Market Participan....
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....er of Attorney by Clients favouring Stock Brokers / Stock Broker and Depository Participants Sl No Clauses/ Provisions of the PoA Circular Clarifications 1 Standardizing the norms for PoA must not be construed as making the PoA a condition precedent or mandatory for availing broking or depository participant services. PoA is merely an option available to the client for instructin....
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....auses to the existing clients. In the event, the deleted clauses are not accepted by the client, Stock Broker/ DP may be required to either obtain fresh PoA or close the account. In case of any addition to the existing PoA, Stock Broker / DP shall be required to obtain a new PoA from clients. 3 PoA executed in favour of a Stock Broker by the client should be limited to the following: "(i)....
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....ction from Client." Redemptions are also included in PoA pursuant to client's instructions. 5 PoA executed in favour of a Stock Broker and Depository Participant by the client should provide the list of clients' & brokers' Bank accounts & demat accounts where funds and securities can be moved. Such bank & demat accounts should be accounts of related party only. The list of clients' & b....