Amendments to the Uniform Norms for Good/Bad Deliveries - SEBI - SMDRP/POLICY/CIR-42/2001

Circulars SECURITIES AND EXCHANGE BOARD OF INDIA SECONDARY MARKET DEPARTMENT Mittal Court, B Wing, First Floor, 224, Nariman Point, Mumbai 400 021 SMDRP/POLICY/CIR-42/2001 August 10, 2001 The Executive Directors/ Managing Directors of all Stock Exchanges Dear Sir, SUB : Amendments to the Uniform Norms for Good/Bad Deliveries Please refer to the circulars no. SMD/RCG/2796/96 dated July 16, 1996, SMD/RCG/3811/96 dated August 19, 1996, SMD/POLICY/CIR/7-97 dated April 16, 1997and SMD/POLICY/GBDN/CIR-25/97 dated October 9, 1997 on the Uniform Norms for Good/Bad Deliveries prescribed by SEBI and the subsequent amendments/additions made therein. It has come to the notice of SEBI that there is a conflicting interpretation of clause 97 and clause 100 of uniform norms for Good/Bad delivery with respect to validity period of company objection memos. Based on the various suggestions received and as discussed with representatives of the Stock Exchanges, it has been decided that in such cases the provisions of clause 97 will prevail. You are requested to take note of it and inform the members of your exchange accordingly. Yours faithfully, S. V. MURALIDHAR RAO DEPUTY GENERAL MANAGER SECONDARY MARKET DEPARTMENT e-mail: [email protected]