SMDRP/Policy/Cir-05/2001

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..... ecutive Director/ Managing Director of all the Stock Exchanges/ NSDL/CDSL Dear Sir, Please refer to SEBI circular no. SMDRP/Policy/Cir-11/99 dated May 7, 1999 advising stock brokers/clearing members to transfer the securities from their respective CM Pool account to the respective beneficiary account of their clients within 15 days from the pay-out day of the .....

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..... positories shall be credited to a separate account with the depository and earmarked for defraying the expenses in connection with the investors education and awareness programs conducted by the depository. The securities, which are lying in these accounts beyond the specified time period, shall initially be identified based on FIFO (First-In First-Out) basis. However, with effect from M .....

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..... nstructions received from the respective clearing members. To the extent of instruction not received, the securities shall be credited to the CM pool account. With effect from April 2, 2001, the time limit of 6 calendar days after the pay-out day for transferring the balances to the beneficiary accounts of clients shall be reduced to 4 calendar days or 2 working days, whichever is later. .....

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