Regulation 4 - Specified intermediary and other entity to obtain unique identification numbers - Securities and Exchange Board of India (Central Database Of Market Participants) Regulations, 2003

Specified intermediary and other entity to obtain unique identification numbers 4. (1) On and from such date as may be notified by the Board in the official gazette, no specified intermediary or other entity shall act as such, unless- (a) it has obtained a unique identification number from the Designated Service Provider; and (b) the following related persons have been allotted unique identification numbers by the Designated Service Provider : (i) its principal officer and personnel engaged in the operational activities of the intermediary for which a certificate of registration is required or taken from the Board; (ii) its promoters, other than the Central or State Government or any statutory authority; (iii) its directors, in case it is a body corporate; (iv) its partners, in case it is a partnership firm; 1 [(v) in case of a stock broker, any approved user of the terminals allotted to him by the stock exchange, including terminals installed through Computer to Computer Link (CTCL) connectivity or any other means of connectivity approved by the stock exchange, which facilitates access to trading system of the exchange, except his sub-broker;] (vi) the sponsors, trustees, asset management companies and asset managers, where applicable; 2 [(vi-a)the directors and personnel engaged in the operational activities of asset management companies; and] (vii) its proprietor, where applicable; 3 [***] (viii) 4 [***]. 5 [Explanation.-For the purposes of sub-clauses (i) and (vi-a), the words personnel engaged in the operational activities shall mean the employees comprising the top three tiers of management excluding the Board of Directors engaged in the operational activities of the specified intermediary and such other employees as may be identified by the intermediary:] Provided that such person may continue to act as an intermediary or other entity if it has made applications for allotment of unique identification number under regulation 7 before the notified date and where such application has been rejected by the Board, an appeal has been filed and such appeal is pending for disposal. (2) Every certificate of registration issued to a specified intermediary by the Board after commencement of these regulations shall be subject to the condition that prior to commencement of its activities, the intermediary shall obtain a unique identification number for itself and for the persons mentioned in clause (b) of sub-regulation (1) in accordance with these regulations. ****** 1 Substituted by the SEBI (Central Database of Market Participants) (Amendment) Regulations, 2004, vide S.O. No. 854(E) dated 21-7-2004. Prior to its substitution, sub-clause (v) read as under :- (v) its associates and their directors; 2 Inserted by the SEBI (Central Database of Market Participants) (Amendment) Regulations, 2004, vide S.O. No. 854(E) dated 21-7-2004. 3 Word and omitted by the SEBI (Central Database of Market Participants) (Amendment) Regulations, 2004, vide S.O. No. 854(E) dated 21-7-2004. 4 Sub-clause (viii) omitted by the SEBI (Central Database of Market Participants) (Amendment) Regulations, 2004, vide S.O. No. 854(E) dated 21-7-2004. Prior to omission, it read as under: (viii) relatives of the natural persons mentioned in sub-clauses (i) to (vii) above: 5 Inserted by the SEBI (Central Database of Market Participants) (Amendment) Regulations, 2004, vide S.O. No. 854(E) dated 21-7-2004