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TMI BlogSecurities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2015X X X X Extracts X X X X X X X X Extracts X X X X ..... be called the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2015. 2. They shall come into force on the 28th day of September, 2015. 3. In the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992,- (I) in regulation 2, in sub-regulation (1), - (i) for clause (ae) the following shall be substituted, namely:- "(ae) "clearing member" means a person having clearing and settlement rights in any recognized clearing corporation and shall include any person having clearing and settlement rights on a commodity derivatives exchange: Provided that such a clearing member in commodity derivatives exchange shall be required to become a member of a recognised cle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arrying on the activity of buying, selling or dealing in securities, other than commodity derivatives, shall not undertake the activity of buying, selling or dealing in commodity derivatives, unless permitted by the Board. (2) A stock broker carrying on the activity of buying, selling or dealing in commodity derivatives, shall not undertake the activity of buying, selling or dealing in securities other than commodity derivatives, unless permitted by the Board." (IV) in Schedule V, in Part A, after clause 1 and before clause 2, the following clause shall be inserted, namely: - "1A. This Schedule shall apply to every stock broker who deals in commodity derivatives and every clearing member/ self-clearing member who clears and settles trade ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ely:- 4A. The non-refundable fee payable along with an application for registration under sub- regulation (4) of regulation 3 or sub-regulation (4) of regulation 10A shall be a sum of fifty thousand rupees: Provided that the non-refundable fee payable along with an application for registration, by a person dealing, clearing and settling trades, on a national commodity derivatives exchange or regional commodity derivatives exchange, immediately before the transfer and vesting of rights and assets of the Forward Markets Commission with the Securities and Exchange Board of India, shall be a sum of twenty-five thousand rupees or five thousand rupees, respectively. (VII) in Schedule V, in Part C, in clause 5, - (i) after sub-clause (2) and b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a period of one year from the date of transfer and vesting of rights and assets of the Forward Markets Commission with the Securities and Exchange Board of India, such persons shall satisfy the networth and deposit as specified in Table 2 of this Schedule." ; (ii) before the existing table, for the heading, the following shall be substituted, namely:- "TABLE 1 NETWORTH AND DEPOSIT FOR MEMBERS DEALING IN SECURITIES, OTHER THAN COMMODITY DERIVATIVES" ; (iii) after TABLE 1 and before the Explanation, the following table shall be inserted, namely:- "TABLE 2 NETWORTH AND DEPOSIT FOR MEMBERS DEALING IN COMMODITY DERIVATIVES Type of member Networth (Amount in Rs.) Deposit (Amount in Rs.) For the members of For the members of National C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2000 by SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2000 vide S.O. No. 787(E). (i) May 29, 2001 by SEBI (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide S.O. No. 476(E). (j) November 15, 2001 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2001 vide S.O. No. 1128(E). (k) February 20, 2002 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2002 vide S.O. No. 220(E). (l) September 27, 2002 by SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide S.O. No. 1045(E). (m) September 23, 2003 by the SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2003 vide S.O. No. 1095(E). (n) November 20, 2003 by the SEB ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ication No. LADNRO/GN/2010-11/06/1097. (x) April 6, 2011 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2011 vide Notification No. F. No. LAD - NRO/GN/ 2011 - 12/01/11486. (y) April 19, 2011 by the Securities and Exchange Board of India (Change in Conditions of Registration of Certain Intermediaries) (Amendment)Regulations, 2011 vide Notification No. LAD/NRO/GN/2011-12/03/12650. (z) August 17, 2011 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2011 vide Notification No. LADNRO/GN/2011-12/19/26273. (za) April 5, 2013 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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