Regulation 9 - Conditions of registration. - Securities and Exchange Board of India (Stock Brokers) Regulations, 1992

Conditions of registration. 9. Any registration granted by the Board under regulation 6 shall be subject to the following conditions, namely,- (a) the stock broker holds the membership of any stock exchange; (b) he shall abide by the rules, regulations and bye-laws of the stock exchange which are applicable to him; (c) where the stock broker proposes change in control, he shall obtain prior approval of the Board for continuing to act as such after the change; (d) he shall pay fees charged by the Board in the manner provided in these regulations; (e) he shall take adequate steps for redressal of grievances, of the investors within 2 [ twenty-one calendar days ] of the date of receipt of the complaint and inform the Board as and when required by the Board; (f) he shall at all times abide by the Code of Conduct as specified in Schedule II; and (g) he shall at all times maintain the minimum networth as specified in Schedule VI. 1 [ (h) Every stock broker who act as an underwriter shall enter into a valid agreement with the body corporate on whose behalf it is acting as underwriter and shall abide by the regulations made under the Act in respect of the activities carried on by it as underwriter. (i) Every Stock Broker shall be entitled to act as an underwriter only out of its own net worth/funds as may be prescribed from time to time. ] ************ NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/14 dated 30-03-2021 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/146 dated 16-08-2023 before it was read as, one month