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TMI BlogSecurities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... ember having clearing and settlement rights in any recognized clearing corporation, but not having trading rights in any recognized stock exchange." II. In Schedule V, (i) in Part A, after clause 1A, the following clause shall be inserted, namely, - "1B. This schedule shall apply to every stock broker who deals in electronic gold receipt segment and every clearing member / self-clearing member who clears and settles trades in electronic gold receipt segment, from the date of grant of registration." (ii) in Part B, in clause 3, in sub-clause (1), in the table, after the row for the 'Debt' Segment, the following new row shall be inserted, namely, - Segment Rate/Amount (in ₹) Remarks Stock broker Clearing Member Self-clearing member Electronic Gold Receipt Segment 0.00010 percent of turnover (₹ 10 per crore) * * All sale and purchase transactions in Electronic Gold Receipt. *As may be specified by the Board from time to time" III. In Schedule VI, (i) Clause 1 shall be substituted with the following, namely, - "1. The stock broker shall have such networth and shall deposit with the stock exchange such sum as may be specified by the Board/ st ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly, - "TABLE 1 NETWORTH FOR MEMBERS DEALING IN SECURITIES Type of Member Base Networt {within 1 year of the date of notification of the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022} (in ₹) Base Networt {within 2 years of the date of notification of the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022} (in ₹) Variable Networth {within 1 year of the date of notification of the Securities and Exchange Board of India (Stock Brokers) (Amendment) Regulations, 2022} # Trading Member - 1 crore 10% of average daily cash balance of clients retained with the member across segments/ exchanges in the previous 6 months. Self-Clearing Member 3 crore* 5 crore Clearing Member 10 crore* 15 crore Professional Clearing Member 25 crore 50 crore * In Currency Derivative Segment, Self-Clearing Member and Clearing Member shall have minimum networth of ₹ 5 crore and ₹ 10 crore, respectively. # Networth requirement for members shall be Base Networth or Variable Networth, whichever is higher. TABLE 2 DEPOSIT FOR MEMBERS DEALING IN SECURITIES Segment Trading member (in ₹) Clearin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) Regulations, 1992, the Principal Regulations, was published in the Gazette of India on October 23, 1992 vide S.O. No. 780 (E). 2. The Principal Regulations were subsequently amended on: (a) November 28, 1995 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 1995 vide S.O. No. 939 (E). (b) January 5, 1998 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1998 vide S.O. No. 13 (E). (c) January 21, 1998 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 1998 vide S.O. No. 75 (E). (d) December 16, 1998 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Third Amendment) Regulations, 1998 vide S.O. No. 1078 (E). (e) July 6, 1999 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1999 vide S.O. No. 541 (E). (f) March 14, 2000 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2000 vide S.O. No. 234 (E). (g) March 28, 2000 by the Securities and Exchange Board of India (Appeal to Securities Appellate Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Brokers) (Amendment) Regulations, 2009 vide Notification No. LADNRO/ GN/2009-10/21/183853. (w) April 13, 2010 by the Securities and Exchange Board of India (Stock Brokers and Sub Brokers) (Amendment) Regulations, 2010 vide Notification 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. (aa) April 5, 2013 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2013 vide Notification No. LAD-NRO/GN/2013-14/01/8129. (ab) September 27, 2013 by the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2013 vide Notification No. N ..... X X X X Extracts X X X X X X X X Extracts X X X X
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