Para 5 - Eligibility criteria for approved intermediary - Securities Lending Scheme, 1997

Eligibility criteria for approved intermediary. 5. No person shall act as an approved intermediary unless a certificate of registration has been obtained from the Board. For the grant of a certificate of registration the Board shall take into account the following : (a) whether the applicant is a person with minimum net worth of Rs. 50 crores ; (b) if the applicant is a clearing house or a clearing corporation and it has the net worth specified by the Board after consulting the stock exchange ; (c) whether the applicant has adequate infrastructure facilities like office space, equipment and manpower experience in dealing in securities to effectively discharge its activities.