Clarification to Clause 24 of Comprehensive IPF/CPF Guidelines

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....Madam, Sub: Clarification to Clause 24 of Comprehensive IPF/CPF Guidelines. 1.      Please refer to SEBI Circular Ref No MRD/DoP/SE/Cir-38/2004 dated October 28, 2004 on the Comprehensive Guidelines for Investor Protection Fund (IPF) / Customer Protection Fund (CPF) at Stock Exchanges. 2.      The provisions of Clause 24 of the Annexure to....

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....s, shall be credited to the IPF/CPF of such exchange. This would be in line with the provisions contained in Clause (viii) of Government of India directive (circular ref 1/26/SE/91 dated August 12, 1991), SEBI circular (SMD/Policy/Cir-24/97 dated September 26, 1997) and would take care of interest of investors on other stock exchanges also. 4.      Accordingly, the Clau....

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....ng issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, V S SUNDARESAN Encl: Annexure - 1 Comprehensive Guidelines for IPF/CPF at Stock Exchanges - Disbursement of claims fro....