Regulation 3 - Application for registration. - Securities and Exchange Board of India (Stock Brokers) Regulations, 1992

1 [CHAPTER II REGISTRATION OF STOCK BROKERS Application for registration. 3. (1) 2 [No person shall act as a stock broker, unless he obtains a certificate of registration from the Board: Provided that no separate registration shall be required for a clearing member registered with the Board to act as a stock broker in a stock exchange of which he is admitted as a member, subject to grant of approval by the concerned stock exchange. Explanation.- For the purpose of this sub-regulation, it is clarified that no separate registration shall be required for a stock broker registered with the Board to operate in more than one stock exchange, of which he is admitted as a member, subject to grant of approval by the concerned stock exchange.] (2) An application for grant of a certificate of registration as a stock broker shall be submitted to the Board in Form A of Schedule I through the stock exchange 3 [****] of which he is admitted as a member. (3) The stock exchange 4 [****] shall forward the application form to the Board as early as possible, but not later than thirty days from the date of its receipt. 5 [ (4) Every stock broker holding a valid certificate of registration shall be entitled to act as an underwriter ] ************* NOTES:- 1 Chapter II substituted by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2013 w.e.f. 27-09-2013 2 Substituted by the SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2014 w.e.f. 08-10-2014. Prior to the substitution, the sub-regulation read as follows: No person shall act as a stock broker, unless he seeks a certificate of registration from the Board for each stock exchange in which he seeks to operate: Provided that no separate registration shall be required for a clearing member registered with the Board to operate as a stock broker in the stock exchange which has promoted the clearing corporation of which he is a clearing member. 3 (s) omitted by the SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2014 w.e.f. 08-10-2014 4 (s) omitted by the SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2014 w.e.f. 08-10-2014 5. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/14 dated 30-03-2021