Regulation 11A - Omitted - Securities and Exchange Board of India (Stock Brokers) Regulations, 1992

5 [ **** ] ************* NOTES:- 1 Renumbered as 11A by the SEBI (Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2006, w.e.f. 07-09-2006. 2 Inserted by the SEBI (Stock Brokers and Sub-brokers) (Amendment) Regulations, 1998 , w.e.f. 05-01-1998. 3 Inserted by the SEBI (Stock Brokers and Sub-brokers) (Amendment) Regulations, 2003, w.e.f. 23-09-2003. 4 Substituted by the SEBI (Stock Brokers and Sub-brokers) (Amendment) Regulations, 2003, w.e.f. 23-09-2003. Prior to substitution, it read as under: The stock exchange shall forward the application who comply with all the requirements specified in sub-regulations 5. Omitted vide Notification No. SEBI/LAD-NRO/GN/2018/27 dated 30-07-2018 w.e.f. 01-04-2019 before it was read as Application for registration of sub-broker. 1 [11A]. (1) An application by a sub-broker for the grant of a certificate shall be made in Form B . (2) The application for registration under sub-regulation (1) above, shall be accompanied by a recommendation letter in Form C from a stock-broker of a recognised stock exchange with whom he is to be affiliated along with two references including one from his banker. (3) The application form shall be submitted to the stock exchange of which the stockbroker with whom he is to be affiliated is a member. (4) The stock exchange on receipt of an application under sub-regulation (3) shall verify the information contained therein and shall also certify that the applicant is eligible for registration as per criteria specified in sub-regulation (5). (5) The eligibility criteria for registration as a sub-broker shall be as follows, namely:- (i) in the case of an individual; (a) the applicant is not less than 21 years of age; (b) the applicant has not been convicted of any offence involving fraud or dishonesty; (c) the applicant has at least passed 12th standard equivalent examination from an institution recognised by the Government : Provided that the Board may relax the educational qualifications on merits having regard to the applicant s experience; 2 [(d) the applicant is a fit and proper person;] (ii) in the case of partnership firm or a body corporate the partners or directors, as the case may be, shall comply with the requirements contained in clauses (a) to (c) of sub-regulation (i); 3 [(iii) the applicant has the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge his activities; (iv) the applicant shall be a person recognized by the stock exchange as a sub broker affiliated to a member broker of the stock exchange.] 4 [(6) The stock exchange shall forward the application in Form B of such applicant along with the recommendation letter in Form C issued by the stock broker with whom he is affiliated and also the recognition letter in Form CA issued by the stock exchange to the Board within 30 days from the date of the receipt of the application.]