Membership Card Value for Networth Calculations of Members

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....ir / Madam, Sub: Membership Card Value for Networth Calculations of Members 1. SEBI vide Circulars No SMD/SED/9012/93 dated May 14, 1993 and SMD/SED/CIR/93/22570 dated October 21, 1993 had specified, interalia, that the value of the membership card of the stock exchange would be considered as a non allowable asset and would not be considered for the computation of net-worth. 2. The issue ....

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....ven in the table below. The card will be included in the non-cash component of the capital. &nbsp; S.No. &nbsp; Period in which auction/sale last took place &nbsp; Percentage of haircut 1 0 to &le; 6 months 50 % 2 > 6 months to < 12 months 75 % 4. If the auction/sale of card has not taken place in the last 12 months then the card value shall not be considered....

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....and regulations for the implementation of the above decision immediately. 8.2 bring the provisions of this circular to the notice of the member brokers/clearing members of the Exchange and also to disseminate the same on the website. 8.3 communicate to SEBI, the status of the implementation of the provisions of this circular in Section II, item no. 13 of the Monthly Development Report for th....