TMI BlogMaster Circular for DepositoriesX X X X Extracts X X X X X X X X Extracts X X X X ..... m and clarifications relating to mandatory requirement of PAN 1.3 Change of Name in the Beneficial Owner (BO) Account 1.4 Fees/Charges to be paid by BO 1.5 Transfer of funds and securities from Clearing Member pool account to BO Account 1.6 Printing of Grievances Redressal Mechanism on Delivery Instruction Form Book 1.7 Exemption to Depository Participants (DPs) from providing hard copies of transaction statements to BOs 1.8 Safeguards on transfer of securities in dematerialized mode Section - 2: Issuer related 2.1 Charges to be paid by Issuers 2.2 Activation of International Securities Identification Number (ISIN) in case of IPOs and additional issue of shares/ securities 2.3 Registrar and Share Transfer Agents 2.4 Mandatory admission of debt instruments on both the Depositories 2.5 American Depository Receipts (ADRs)/Global Depository Receipts (GDRs) 2.6 Electronic Clearing System (ECS) facility 2.6.1 Use of ECS for refund in public/ rights issues 2.6.2 Usage of electronic payment modes for making cash payment to the investors. Section - 3: Depositories/ Depository Participant (DP) Related 3.1 Facility for a Basic Services Demat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4.17. Operation of minor s demat account SCHEDULE Section 1: Beneficial Owner (BO) Accounts 1.1 Opening of BO Account by non body corporates 1.1.1 Proof of Identity (PoI) i. Permanent Account Number (PAN) to be the sole identification number for all transactions in the securities market Reference circular MRD/DoP/Cir-5/2007 dated April 27, 2007 With effect from July 02, 2007, PAN is the sole identification number for all transactions in the securities market, irrespective of the amount of transaction. A copy of the PAN card with photograph may be accepted as Proof of Identity. In this regard, intermediaries shall:- a. Put necessary systems in place so that the databases of the clients and their transactions are linked to the PAN details of the client. b. Build necessary infrastructure to enable accessibility and query based on PAN thereby enabling retrieval of all the details of the clients. c. Collect copies of PAN cards issued to the existing as well as new clients by the Income Tax Department and maintain the same in their record after verifying with the original. d. Cross-check the aforesaid details collected from their clients wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h are duly notarized and/or apostiled or consularised) that gives the registered address should be taken. h. The proof of address in the name of the spouse may be accepted. i. Aadhaar Letter issued by UIDAI shall be admissible as Proof of Address in addition to its presently being recognized as Proof of Identity. Reference Circular MIRSD/09/2012 dated August 13, 2012 DP shall ensure that all documents pertaining to proof of identity and proof of address are collected from all the account holders. Reference Circular MRD/DoP/Dep/Cir-29/2004 dated August 24, 2004 Submission of the aforesaid documents is the minimum requirement for opening a BO Account. DPs must verify the copy of the aforementioned documents with the original before accepting the same as valid. While opening a BO Account, DPs shall exercise due diligence Reference point 5 of part II on Customer Due Diligence of master circular no. ISD/AML/CIR-1/2008 dated December 19, 2008 while establishing the identity of the person to ensure the safety and integrity of the depository system. 1.1.3 Acceptance of third party address as correspondence address Reference Circular CIR/MRD/DP/37/2010 dated Dece ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mat accounts. Reference Hon ble High Court of Sikkim judgment dated March 31, 2006 DPs shall verify the veracity of the claim of the investors that they are residents of Sikkim, by collecting sufficient documentary evidence in support of their address. Reference Circular MRD/DoP/Dep/Cir-29/2004 dated August 24, 2004 1.2.4 UN entities and multilateral agencies exempt from paying taxes/ filling tax returns in India Reference Circular MRD/DoP/Dep/Cir-09/06 dated July 20, 2006 UN entities/ multilateral agencies exempt from paying taxes/filing tax returns in India are also exempt from the mandatory requirement of submitting their PAN card details, subject to the DPs collecting documentary evidence in support of such claims. 1.2.5 FIIs/Institutional Clients Reference Circular MRD/DoP/Dep/SE/Cir-13/06 dated September 26, 2006 Custodians shall verify the PAN card details of institutional clients with the original PAN card and provide duly certified copies of such verified PAN details to the brokers. This requirement is applicable in respect of institutional clients, namely, FIIs, MFs, VCFs, FVCIs, Scheduled Commercial Banks, Multilateral and Bilateral Develo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Publication of name change in official gazette. iii. In case of change in father s name a. Publication of name change in official gazette. 1.3.2 The Depository Participants (DPs) shall collect the self attested copies of above documents and maintain the same in their records after verifying with the original document. 1.4 Fees/Charges to be paid by BO 1.4.1 Account opening, custody and credit of securities Reference Circular MRD/DoP /SE/Dep/Cir-4/2005 dated January 28, 2005 With effect from February 1, 2005 i. No investor shall pay any charge towards opening of a Beneficial Owner (BO) Account except for statutory charges as applicable; ii. No investor shall pay any charge for credit of securities into his/her BO account; and iii. No custody charge shall be levied on any investor who is opening a BO account. 1.4.2 Account Closure Reference Circular D CC/FITTC/CIR - 12/2002 dated October 30, 2002 No Account closure charges shall be levied on BO on the closure of any account. 1.4.3 Inter Depository Transfer Reference Circular SMDRP/Policy/Cir-29/99 dated August 23, 1999 Inter-depository transfer of shares does not attract Stamp d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... put in place necessary systems and procedures including formats, periodicity, etc. for collection of necessary data from the DPs and dissemination of the same on their website which would enable the investors to have a comparative analysis of the tariff/charge structure of various DPs. 1.5 Transfer of funds and securities from Clearing Member pool account to BO Account Reference Circular SMDRP/Policy/Cir-05/2001 dated February 1, 2001 Circular SEBI/MRD/Policy/AT/Cir-19/2004 dated April 21, 2004 i. Clearing members shall transfer the funds and securities from their respective pool account to the respective beneficiary account of their clients within 1 working day after the pay-out day. The securities lying in the pool account beyond the stipulated period shall attract a penalty at the rate of 6 basis point per week on the value of securities. The penalty so collected by the depositories shall be credited to a separate account with the depository and earmarked for defraying the expenses in connection with the investors education and awareness programs conducted by the depository. ii. The securities lying in the pool account beyond the above period shall not be elig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Other entities Collective Investment Schemes Debenture Trustees Merchant Bankers Bankers to Issue Credit Rating Agencies Custodian of Securities Foreign Institutional Investors Underwriters Venture Capital Funds KYC Registration Agency(KRA) Alternative Investment Fund Mutual Funds Depository and Depository Participants Information to SEBI: Price Manipulation Insider trading You can file your complaints online at http://scores.gov.in or alternately send your complaints to Office of Investor Assistance and Education of SEBI at Mumbai or Regional Offices at the following addresses: Address of SEBI Offices Office of Investor Assistance and Education , SEBI Bhavan, Plot No.C4-A, 'G' Block, Bandra Kurla Complex, Bandra (E), Mumbai 400 051 Tel: 022-26449188 / 26449199 ( http://scores.gov.in ) SEBI, Northern Regional Office, 5th Floor, Bank of Baroda Building, 16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ipt of such intimation, the DP shall cancel the unused DIS of the said booklet. iv. The DPs shall not issue more than 10 loose DIS to one accountholder in a financial year (April to March). The loose DIS can be issued only if the BO(s) come in person and sign the loose DIS in the presence of an authorised DP official v. The DP shall also ensure that a new DIS booklet is issued only on the strength of the DIS instruction request slip (contained in the previous booklet) duly complete in all respects, unless the request for fresh booklet is due to loss, etc., as referred to in clause (c) above vi. The DPs shall put in place appropriate checks and balances with regard to verification of signatures of the BOs while processing the DIS. vii. The DPs shall cross check with the BOs under exceptional circumstances before acting upon the DIS. viii. The DPs shall mandatorily verify with a BO before acting upon the DIS, in case of an account which remained inactive i.e., where no debit transaction had taken place for a continuous period of 6 months, whenever all the ISIN balances in that account (irrespective of the number of ISINs) are transferred at a time. However, in case of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed company, prior to receipt of final listing / trading approval, the depositories shall devise a mechanism so that such new securities created shall be frozen till the time final listing/ trading permission is granted by the exchange. Reference Circular CIR/MRD/DP/24/2012 dated September 11, 2012 iii. In order to achieve the above, the Depositories are advised to allot such additional shares/securities under a new temporary ISIN which shall be kept frozen. Upon receipt of the final listing/ trading permission from the exchange for such additional shares/ securities, the shares/securities credited in the new temporary ISIN shall be debited and the same would get credited in the preexisting ISIN for the said security. Thereafter, the additional securities shall be available for trading. iv. The stock exchanges are advised to provide the details to the depositories whenever final listing / trading permission is given to securities. Further, in case of issuance of equity shares by a company, listed on multiple stock exchanges, the concerned stock exchanges shall synchronize their effective dates of listing / trading approvals and intimate the same to depositories in advance. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shall be compulsorily delivered in dematerialised form. Pursuant to RBI directions in this regard, a non-resident holder of ADRs/GDRs issued by a company registered in India, on surrender of such ADRs/GDRs, can acquire the underlying shares when such shares are released by the Indian Custodian of the ADR/GDR issue. Further, the company whose shares are so released, or a Depository shall enter in the register or books, wherein such securities are registered or inscribed, an address outside India of the non-resident holder of shares. 2.5.2 Tracking of underlying shares of GDRs/ADRs Reference Circular D CC/FITTC/Cir-09/2002 dated July 4, 2002 and Circular D CC/FITTC/Cir-10/2002 dated September 25, 2002 To ensure easy tracking of the underlying shares released on conversion of the depositories receipts all such shares shall be credited to a separate Depository Receipts (DRs) account of the respective investor. In this regard, Depositories shall ensure that the following information is provided to the domestic custodian holding the underlying shares on a regular basis: i. Total number of shares at the beginning of the month ii. Number of shares transferred into the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ture certificates, companies or their RTI STA shall take necessary steps to maintain updated bank details of the investors at its end. iii. In cases where either the bank details such as MICR (Magnetic Ink Character Recognition), IFSC (Indian Financial System Code), etc. that are required for making electronic payment are not available or the electronic payment instructions have failed or have been rejected by the bank, companies or their RTI STA may use physical payment instruments for making cash payments to the investors. Companies shall mandatorily print the bank account details of the investors on such payment instruments. iv. Depositories are directed to provide to companies (or to their RTI STA) updated bank details of their investors. SECTION-3: Depositories/ Depository Participant (DP) Related 3.1 Facility for a Basic Services Demat Account (BSDA) Reference Circular CIR/MRD/DP/22/2012 dated August 27, 2012 3.1.1 All depository participants (DPs) shall make available a Basic Services Demat Account (BSDA) with limited services as per terms specified herein. 3.1.2 Eligibility : Individuals shall be eligible to opt for BSDA subject to the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovided for the quarter in which the account became a zero balance account. ii. Holding Statement : a. One annual physical statement of holding shall be sent to the stated address of the BO in respect of accounts with no transaction and nil balance. b. One annual statement of holding shall be sent in respect of remaining accounts in physical or electronic form as opted for by the BO. iii. Charges for statements : Electronic statements shall be provided free of cost. In case of physical statements, the DP shall provide at least two statements free of cost during the billing cycle. Additional physical statement may be charged at a fee not exceeding ₹ 25/- per statement. iv. All BOs opting for the facility of BSDA, shall register their mobile number for availing the SMS alert facility for debit transactions. v. At least Two Delivery Instruction Slips (DIS) shall be issued at the time of account opening. vi. All other conditions as applicable to regular demat accounts, other than the ones mentioned in this circular shall continue to apply to basic services demat account. 3.1.6 Rationalisation of services with respect to regular accounts. In partia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... claration shall be submitted by an investor to its Depository Participant within a period of one month from the date of transaction. d. For transactions undertaken by investors through their RGESS designated demat account, Depositories may seek necessary transactional details from stock exchanges viz. Actual Trade value, Trading date, Settlement number, etc, for the purpose of enforcing lock-in and for generating reports mandated vide MoF notification on RGESS. On receipt of such request from depositories, stock exchanges shall provide the details to depositories on an immediate basis. It shall also be ensured that a uniform file structure is used by stock exchanges and depositories for such intimation of transaction details. e. With regard to point 3(ix) (a) (b) of RGESS notification, depositories may seek confirmation, as applicable, from stock exchanges. f. With regard to the securities held in the RGESS designated account, treatment of the corporate actions shall be as given at Annexure A. iii. Stock exchanges shall furnish list of RGESS eligible stocks / ETFs / MF schemes on their website. Further, the list shall also be forwarded to the depositories at monthly i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 16 Redemption of Mutual Fund Involuntary on maturity (voluntary, if there is option to shift between different scheme(s) or on account of exit option due to change in fundamental attributes of scheme) Annexure B Illustration of lock-in period in RGESS I. RGESS lock-in period if investments are brought in at once Annexure B Illustration of lock-in period in RGESS I. RGESS lock-in period if investments are brought are in installment 3.3 Limitation period for filing an arbitration reference Reference Circular CIR/MRD/DP/4/2011 dated April 7, 2011 i. It is decided that the limitation period for filing an arbitration reference shall be governed by the law of limitation, i.e., The Limitation Act, 1963. The modified limitation period shall also be applicable to cover inter alia the following cases: a. where the limitation period (in terms of Limitation Act 1963) have not yet elapsed and the parties have not filed for arbitration with the depository, or, b. where the arbitration application was filed but was rejected solely on the ground of delay in filin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... changes and Depositories Reference Circular LGL/Cir-2/2003 dated February 19, 2003 i. Depositories and exchanges shall submit the following information while seeking SEBI approval for amendment to Bye Laws/ Rules/ Regulations and amendments thereto: a. The objective/purpose of amendments. b. Whether the amendment is consequential to any directive/circulars/ guidelines from SEBI/ Government and the details thereof. c. Whether such amendments necessitate any consequential amendments to any other Bye Laws/ Rules/ Regulations. d. The proceedings of the Governing Board or Governing Council, as the case may be, wherein these proposed amendments were approved by the Exchanges/ Depositories. e. If documents other than Bye Laws/ Rules/ Regulations are sent for approval, the justification and need for forwarding the same to SEBI, indicating whether it forms a part of any Bye Law/ Rule/ Regulation. ii. Further, all Exchanges shall ensure that requests for dispensation of the requirement of pre-publication shall be accompanied with proper justification and indicate how the public interest or interest of trade shall be served by such dispensation of pre-publication. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es to CC/CH. (There is no separate extended time limit for late confirmations). By 2.30 pm Completion of process and download obligation files to brokers/ custodians by the CC/CH. 3 T+2 By 11.00 am Pay-in of securities and funds. By 1.30 pm Pay-out of securities and funds. ii. All Depositories shall adhere to the aforementioned activity schedule to implement T+2 rolling settlement. DPs shall adhere to the designated activities within the prescribed time limits as under: a. DPs shall accept instructions for pay-in of securities from clients in the physical form atleast upto 4 p.m. and in electronic form atleast upto 6 p.m. on T+1. b. DPs shall complete execution of pay-in instructions latest by 10:30 a. m. on T+2. c. Depositories shall download the processed pay-in files to the Exchange / Clearing House / Clearing Corporation latest by 11:00 a.m. on T+2. d. Pay-out of securities by the Exchange / Clearing House / Clearing Corporation to the Depositories shall be executed by 1:30 p.m. on T+2. e. Pay-out of securities shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reference Circular MIRSD/DPS-III/Cir-9/07 dated July 3, 2007 i. To ensure compliance with Regulation 46 of the SEBI (Depositories and Participants) Regulations, 1996, and Clause 19 of the Code of Conduct for Participants contained in the Third Schedule to the Regulations the DP shall ensure that it has satisfactory internal control procedure in place, inclusive of their branch offices. DPs are therefore required in terms of these provisions to put in place appropriate mechanisms to ensure that their branches are carrying on the operations in compliance with the applicable regulations, bye-laws, etc. DPs are also required to put in place suitable internal control systems to ensure that all branches exercise due diligence in opening accounts, complying with KYC requirements, in ensuring systems safety in complying with client instructions, manner of uploading client instructions, in verifying signatures and maintaining client records, etc. DPs shall also ensure that the branches are suitably integrated. ii. Depositories shall examine the adequacy of the above mechanisms during their inspections of DPs. The Depositories shall also carry out surprise inspections/ checks of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 2 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate of resolution/reference to arbitration/finding it non-actionable. If under process, it is the date of updation of this sheet. */** As per Table 1 Report 1B: Redressal of Complaints received against Depository Participants (DPs) during 2008-09: Updated on mmm dd yyyy (to be updated every quarter) (In excel sheet) Sl. No. Name of the DP Status of DP (active/ inactive/ in process of termination /withdrawal) No. of BOs accounts at the beginning of the year No. of Complaints received against the DP * Of the Complaints received during 2008-09 No. of Complaints Resolved through the Depository Non actionable** Arbitration Advised Pending for redressal with Depository No. of Arbitration filed by BOs Decided by the Arbitrators Decided by Arbitrators in favour of the BOs Pending for Redressal with Arbitrators 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on mmm dd yyyy (to be updated every quarter) (In excel sheet) Sl. No. Name of Arbitrator No. of Awards Passed No. of Awards in favor of BOs No. of Awards appealed No. of Awards Implemented No. of cases pending for redressal at the end of period Filed by DP Filed by BO Pending For more than 6 months For more than 3 months, but less than 6 months 1 2 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N Total (In case of panel of arbitrators, the cases / awards would appear against every member of the panel) (Arrange the arbitrators in descending number of awards passed by them during the period) Report 2B: Details of Arbitration Proceedings (where BO is a party) during 2009-10: Updated on mmm dd yyyy (to be updated every quarter) (In excel sheet) Sl. No. Name of Arbitrator No. of Awards Passed No. of Awards in favor of BOs No. of Awards appealed No. of Awards Implemented No. of cases pending for redressal at the end of period ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N Total (In case of panel of arbitrators, the cases / awards would appear against every member of the panel) (Arrange the arbitrators in descending number of awards passed by them during the period) Report 3A: Penal Actions against Depository Participants (DPs) during 2008-09: Updated on mmm dd yyyy (to be updated every quarter) (in excel sheet) Sl. No. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N Report 3B: Penal Actions against Depository Participants (DPs) dur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... N ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Non-updation of changes in account (address/ signatories/bank details/ PAN/ Nomination etc.) Type V Charges Related V a Wrong/ Excess Charges V b Charges paid but not credited V c Charges for Opening/closure of Account Type VI Delivery Instruction Related (DIS ) VI a Non acceptance of DIS for transfer VI b Delay in/ non Execution of DIS VI c Delay in Issuance / Reissuance of DIS Booklet Type VII Closure VII a Non closure/ delay in closure of account VII b Closure of a/c without intimation by DP Typ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are therefore advised to modify all the relevant clauses including the aforementioned clause of the said agreement to state that DP after giving two days notice shall have a right to stop processing of instructions of BOs till such time he makes the payment along with the interest. iv. This modification shall also be made applicable to all the DP-BO agreement already signed. 4.2. Activity of Demat of warehouse receipts Reference: MRD/DP/SG-OW/202/2012 and MRD/DP/SG-OW/203/2012 dated January 4, 2012 The aforesaid activity is not in compliance with Regulation 28 of SEBI (D P) Regulations, 1996 and therefore depositories cannot carry out this activity. Depositories are therefore advised to take suitable steps in this regard, either to hive-off or to discontinue the activity. 4.3. Pledge of Shares through depository system Reference: MRD/DoP/MAS OW/16723/2010 dated August 17, 2010 i. Section 12 of the Depositories Act and Regulation 58 of the SEBI (Depositories and Participants) Regulations, 1996 along with the relevant Bye Laws of the Depositories clearly enumerate the manner of creating pledge. It is felt that there is a need to communicate to the BOs th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oblems in comprehending the contents of the Family Settlement Deed, they should refer the matter to Depositories for necessary advice on case-to-case basis. 4.4.2 DP(s) shall automatically open new account in the name of the surviving members(s), in the same order as in the original account, on an application by the surviving member(s) based on existing documents required as per the KYC norms. Submission of new account opening form shall not be insisted upon. 4.4.3 A uniform time frame of 7 days, after receipt of all requisite documents, shall be prescribed for processing of Transmission requests. 4.4.4 In case of multiple successors, NOC of non-applicants shall be recorded on the TRF of the applicant instead of insisting separate TRF from each of the successors. 4.4.5 Nomination facility shall be encouraged by the Depositories specifically targeting BOs who have not opted for nomination. As regards new accounts, it shall be provided for at the account opening stage itself. In case the person (both an existing and new account holder) is not interested to nominate, then such person would have to give a positive declaration to that effect. 4.5. SMS alerts for demat ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nless they delist their securities from the stock exchanges. ii. As regards companies under liquidation are concerned, it is informed that deactivation of the ISIN may be only done in cases where companies have been liquidated. In other cases where companies are being liquidated, deactivation of ISIN resulting in total freezing may not be desirable as it will disallow investors to hold shares in dematerialized form 4.9. Discontinuation of sending transaction statements by depository participants to clients Reference: MRD/NSDL/VM/158886 /2009 dated March 30, 2009 SEBI allowed discontinuation of sending transaction statements by depository participants to clients subject to the following conditions: i. Transaction statements were returned undelivered on three consecutive occasions. ii. The depository participant (DP) maintains proof that the transaction statements were returned undelivered. iii. The transaction statements were returned undelivered for the reasons which clearly establish that the client no longer resides at the given address (i.e. party shifted, etc.) and not for other reasons (i.e. residence/office closed, address incorrect, address incomplet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lable in the database of depositories. 4.12. Establishment of connectivity by Clearing House / Clearing Corporation (CH/CC) with the Depository Clarification Reference: MRD/DoP/ Dep/82334 /2006 dated December 14, 2006 i. On examination of the provisions of Regulations 19(a) and 31 of the SEBI (Depositories and Participants) Regulations, 1996, it is advised that registration of a CC/CH of a stock exchange as a DP with SEBI is not mandatory and a pre-requisite for it to obtain connectivity with the depositories. However, if the CC/CH of a stock exchange desires to function as any other Depository Participant , i.e. to open BO accounts for investors or clearing member account, registration as DP with SEBI is mandatory. ii. In view of the above, Depositories are advised to provide continuous electronic means of communication / connectivity to the CH/CC of the Exchanges without insisting for a mandatory registration as DP with SEBI with a condition that such entities would not be permitted to open BO accounts for investors or clearing member account. 4.13. Computing and monitoring of the Aggregate Value of Portfolio of Securities (AVPS) of the BOs held in demateria ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opening new accounts. 4.15. Clarification on our circular no. SMDRP/Policy/Cir-28/99 dated August 23, 1999 Reference: D CC/ 1099 / 2002 dated November 01, 2002 . i. Please refer to para 4 of the captioned circular which is reproduced below:- In cases where a DP has already sent information about dematerialisation electronically to a Registrar but physical shares have not been received, the registrar will accept the demat request and carry out dematerialization on the indemnity given by the DP and proof of dispatch of document given by DP. ii. It is clarified that the above provision shall be applicable to all the securities like scrips, bonds, debentures, debenture stock or other marketable securities eligible to be held in dematerialised form in a depository as defined in Regulation 28 of the SEBl (Depository and Participants) Regulations, 1996. 4.16. Voting rights in respect of securities held in pool account Reference: SMDRP/NSDL/26563/2001 dated April 10, 2001 It was informed that the corporate benefits availed by the clearing member, clearing corporation and intermediaries shall be held in trust on behalf of beneficiary owners. Therefore, the cleari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ir-09/06 dated July 20, 2006. 25. MRD/DoP/Dep/SE/Cir-17/06 dated October 27, 2006. 26. MRD/DoP/Dep/SE/Cir-13/06 dated September 26, 2006. 27. MRD/DoP/Dep/Cir-09/06 dated July 20, 2006. 28. MRD/DoP/Cir- 5/2007 dated April 27, 2007. 29. MIRSD/DPS-III/Cir-9/07 dated July 3, 2007. 30. SEBI/MRD/Dep/Cir-03/2007 dated February 13, 2007. 31. SEBI/CFD/DILDIP/29/2008/01/02 dated February 1, 2008. 32. MIRSD/DPS- III/Cir-23/08 dated July 25, 2008. 33. SEBI/MRD/Dep/Cir-03/2008 dated February 28, 2008. 34. MRD/DoP/Cir-20/2008 dated June 30, 2008. 35. MRD/DoP/SE/Dep/Cir-2/2009 dated February 10, 2009. 36. CIR/MRD/DP/19/2010 dated June 10, 2010. 37. CIR/MRD/DP/20/2010 dated July 1, 2010. 38. CIR/MRD/DP/22/2010 dated July 29, 2010. 39. CIR/MRD/DO/37/2010 dated December 14, 2010. 40. CIR/MRD/DP/04/2011 dated April 07, 2011. 41. CIR/MRD/DP/05/2011 dated April 27, 2011. 42. MIRSD/SE/Cir-21/2011 dated October 5, 2011. 43. CIR/MRD/ICC/16/2012 dated June 15, 2012. 44. CIR/MRD/DP/21/2012 dated August 02, 2012. 45. CIR/MIRSD/09/2012 dated August 13, 2012. 46. CIR/MRD/DP/22/2012 dated August 27, 2012. 47. CIR/MRD/DP/24/2012 dated September ..... X X X X Extracts X X X X X X X X Extracts X X X X
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