Membership Card Value for Networth Calculations of Members

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..... mbership Card Value for Networth Calculations of Members 1. SEBI vide Circulars No SMD/SED/9012/93 dated May 14, 1993 and SMD/SED/CIR/93/22570 dated October 21, 1993 had specified, interalia, that the value of the membership card of the stock exchange would be considered as a non allowable asset and would not be considered for the computation of net-worth. 2. The issue of including the valu .....

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..... w. The card will be included in the non-cash component of the capital. S.No. Period in which auction/sale last took place Percentage of haircut 1 0 to 6 months 50 % 2 6 months to 12 months 75 % .....

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..... the members. 8. The Stock Exchanges are advised to 8.1 make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately. 8.2 bring the provisions of this circular to the notice of the member brokers/clearing members of the Exchange and also to disseminate the same on the website. 8.3 communicate to SEBI, the status of t .....

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