SMDRP/Policy/Cir-05/2001

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....of all the Stock Exchanges/ NSDL/CDSL Dear Sir, Please refer to SEBI circular no. SMDRP/Policy/Cir-11/99 dated May 7, 1999 advising stock brokers/clearing members to transfer the securities from their respective CM Pool account to the respective beneficiary account of their clients within 15 days from the pay-out day of the settlement. • It has now been decided that with effe....

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.... with the depository and earmarked for defraying the expenses in connection with the investors' education and awareness programs conducted by the depository. • The securities, which are lying in these accounts beyond the specified time period, shall initially be identified based on FIFO (First-In First-Out) basis. However, with effect from March 5, 2001, the securities shall be identi....

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....ve clearing members. To the extent of instruction not received, the securities shall be credited to the CM pool account. • With effect from April 2, 2001, the time limit of 6 calendar days after the pay-out day for transferring the balances to the beneficiary accounts of clients shall be reduced to 4 calendar days or 2 working days, whichever is later. The penal provisions mentioned a....