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TMI BlogModification to Investor Protection Fund (IPF)/ Customer Protection Fund (CPF) GuidelinesX X X X Extracts X X X X X X X X Extracts X X X X ..... /SE/Cir-38/2004 dated October 28, 2004 had issued comprehensive guidelines for regulation of Investor Protection Fund (IPF)/ Customer Protection Fund (CPF) required to be maintained by Stock Exchanges. Further vide circular No. MRD/DoP/SE/Cir-21/2006 dated December 14, 2006, SEBI issued a clarification to Clause 24 of the Annexure to Circular dated October 28, 2004, specifying that in case of defa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntioned Annexure, with a view to harmonise the practices followed by various exchanges to meet investor claims. 3. Thus it has been decided to modify the Comprehensive Guidelines - a) Clause 8 shall be substituted with the following 8. The specified period for inviting legitimate claims against a defaulter member, shall be a minimum of ninety days. b) Clause 13 shall be substituted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ge of defaulter broker s assets after its realization. e) Clause 24, as it reads after incorporation of clarification vide Circular dated December 14, 2006, shall be substituted with the following 24. The Stock Exchange shall ensure that the amount realized from the assets of the defaulter member is returned to the defaulter member after satisfying the claims of the Stock Exchange and SEB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, Harini Balaji Deputy General Manager 022-26449372 email: [email protected] - Circular - Trade Noti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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