Execution of Power of Attorney (PoA) by the Client in favour of the Stock Broker / Stock Broker and Depository Participant

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..... the Stock Broker / Stock Broker and Depository Participant 1. SEBI, vide circular no. CIR/MRD/DMS/13/2010 dated April 23, 2010, issued Guidelines for execution of Power of Attorney (PoA) by the client favouring Stock Broker / Stock Broker and Depository Participant (hereinafter referred to as "Guidelines"). Certain clarifications were issued later vide circular no. CIR/MRD/DMS/28/2010 dated Augu .....

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..... ansfer of funds from the bank account(s) of the Clients for trades executed by the clients through another stock broker. 3.3. Open a broking / trading facility with any stock broker or for opening a Beneficial Owner account with any Depository Participant. 3.4. Execute trades in the name of the client(s) without the client(s) consent. 3.5. Prohibit issue of Delivery Instruction Slips (DIS) t .....

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..... ecified in paragraph 3 above. In this regard, it is reiterated that: 4.1. PoA is optional and should not be insisted upon by the stock broker / stock broker depository participant for opening of the client account. 4.2. PoA executed in favour of stock broker / stock broker depository participant by the client shall be utilized 4.2.1. For transfer of securities held in the beneficial owner ac .....

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..... 2010 read with SEBI circular dated August 31, 2010. 5. It has also been decided that all off-market transfer of securities shall be permitted by the Depositories only by execution of Physical Delivery Instruction Slip (DIS) duly signed by the client himself or by way of electronic DIS. The Depositories shall also put in place a system of obtaining client's consent through One Time Password (OTP) .....

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..... nder Section 11(1) of the Securities and Exchange Board of India Act, 1992 and Section 19 of the Depositories Act, 1996, to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets. Yours faithfully Narendra Rawat General Manager Market Intermediaries Regulation and Supervision Department
Circular, Trade Notice, Public Notic .....

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