TaxTMI 
TaxTMI 
Securities And Exchange Board Of India (Stock Brokers And Sub-Brokers) (Amendment) Regulations, 2013.
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....ange" shall be inserted; b. after clause (c), following clause shall be inserted; namely:- "(ca) "proprietary trading member" means a member of debt segment of a stock exchange which trades only on its own account or as permitted by its sectoral regulator;" ; c. in clause (fa), after the words "currency derivatives segment of a stock exchange" the words "or debt segment of a stock exchange" shall be inserted; d. in clause (gd), after the words "currency derivatives segment of a stock exchange" the words "or debt segment of a stock exchange" shall be inserted. (ii) After Chapter III B, the following new Chapter shall be inserted, namely:- "CHAPTER III C REGISTRATION OF TRADING MEMBER OR PROPRIETARY TRADING MEMBER OR CLEARING MEMBER OR SELF CLEARING MEMBER OF DEBT SEGMENT Application for registration of trading member or proprietary trading member or clearing member or self clearing member. 16S. (1) An application for grant of certificate of registration by a trading member or proprietary trading member of debt segment of a stock exchange shall be made in Form AC of Schedule I, through the concerned debt segment of a stock exchange of which he is a member. (2) An applicati....
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....h the stock exchange as specified by the Board from time to time. (3) An applicant under this Chapter who desires to act as a clearing member in addition to complying with the requirements of sub-regulation (1), shall have a minimum net worth of three crore rupees and shall deposit a sum as specified by the Board with the clearing corporation. (4) An applicant under this Chapter who desires to act as a self-clearing member, in the debt segment of a stock exchange, in addition to complying with the requirements of sub-regulation (1), shall have a minimum net worth of one crore rupees and shall deposit a sum as specified by the Board with the clearing corporation: Provided that the deposit requirement specified in sub-regulation (3) or (4) shall not be applicable when a member clears and settles all the trades only on gross basis for both securities and funds, without using settlement or trade guarantee fund, Explanation- For the purpose of sub-regulations (2), (3) and (4), the expression 'net worth' shall mean the networth as specified under Chapter III B. Procedure for registration. 16V. The Board on being satisfied that the applicant under this Chapter is eligible, shall gra....
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....f being heard, whereupon the trading member or proprietary trading member or clearing member or self-clearing member shall cease to deal in or settle the debt contracts as a member of debt segment of stock exchange or clearing corporation, as the case may be. (3) A trading member or proprietary trading member or clearing member or self-clearing member of any other segment, who has been allowed to trade or clear in the debt segment, shall pay fees as specified in Schedule IV B. Trading member or proprietary trading member or clearing member or self-clearing member to abide by the code of conduct, etc. 16ZA. (1) The code of conduct for the stock brokers specified in Schedule II, shall mutatis mutandis apply to the trading member or proprietary trading member or clearing member or self-clearing member under this Chapter and such members shall at all times abide by that code of conduct. (2) The trading member or proprietary trading member or clearing member or self-clearing member specified in Chapter III C shall abide by the code of conduct as specified in the rules and bye-laws of debt segment of the stock exchange. (3) The trading member under this Chapter shall obtain details ....
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....urities and Exchange Board of India 1. Name of the debt segment of a stock exchange/clearing corporation of which the applicant is the member and the tenure of membership. 2. Name of the member with Code No. 3. Whether the applicant is to act as a trading member or proprietary trading member or clearing member and/or self-clearing member. 4. ff the applicant is to act as a trading member or proprietary trading member, the applicant is required to furnish the name and details of the clearing member or self-clearing member through whom he intends to clear and settle his trade. 5. Address of the member. 6. Trade name of member. 7. Net worth of the applicant along with necessary documents in support thereof. 8. Whether the application is accompanied by a requisite fee as per Schedule IVB of the Regulations as applicable to the applicant. 9. Copy of certificate of registration in case the applicant is already registered as a member of the stock exchange or clearing corporation under these Regulations. 10. In case the applicant is not already registered as a member of the stock exchange or clearing corporation under these Regulations, following additional information shall be p....
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....corporation subject to the conditions prescribed therefor, from time to time, by the Board. Registration number allotted is as under: .................................................................. This certificate shall be valid till it is suspended or cancelled in accordance with the Regulations. Date : ................... By order For and on behalf of Securities and Exchange Board of India." (iv) After Schedule IVA, the following new Schedule shall be inserted, namely:- "SCHEDULE IVB [Regulation 16Z(1)] FEES TO BE PAID BY THE TRADING MEMBER OR PROPRIETARY TRADING MEMBER OR CLEARING MEMBER OR SELF-CLEARING MEMBER OF DEBT SEGMENT/CLEARING CORPORATION 1. A clearing member or self clearing member shall every financial year pay a fee of rupees fifty thousand till his registration is in force, in the manner specified below:- (a) for the first financial year along with the application for registration; (b) for the subsequent financial years before 1st June of that financial year. 2. Every trading member or proprietary trading member shall pay to the Board every financial year, a fee in respect of the transactions undertaken by him on the debt segment of a recognised s....
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....ding member or proprietary trading member shall be liable to furnish such information or explanations to the Board as may be required by it in respect of fee paid or payable under this Schedule. 6. The financial year shall mean the year commencing from 1st April and ending on 31st March of the following year." U. K. SINHA, Chairman [ADVT. III/4/Exty./69-ZB/13] Footnote: 1. Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992, the Principal Regulations, was published in the Gazette of India on October 23, 1992 vide S.O. No. 780 (E). 2. The Principal Regulations were subsequently amended on: (a) November 28, 1995 by the SEBI (Payment of Fees) (Amendment) Regulations, 1995 vide S.O. No. 939 (E). (b) January 5, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1998 vide S.O. No. 13 (E). (c) January 21, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 1998 vide S.O. No. 75 (d) December 16, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Third Amendment) Regulations, 1998 vide S.O. No. 1078 (E). (e) July 6, 1999 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1999 vide S.O. No. 5....