SMDRP/Policy/Cir-05/2001

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..... lease 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 settlement. * It has now been decided that with effect from February 12, 2001, clearing member shall be required to trans .....

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..... ors' 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 March 5, 2001, the securities shall be identified based on the settlement number basis. The clearing corporation/houses of the stock exchanges shal .....

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..... ccount. * 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. The penal provisions mentioned above shall be applicable on the balances lying in the pool account after this period. The above decisions would not be appl .....

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