9911796707
TMI BlogExecution of ‘Demat Debit and Pledge Instruction’ (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities - ClarificationX X X X Extracts X X X X X X X X Extracts X X X X ..... ruction' (DDPI) for transfer of securities towards deliveries / settlement obligations and pledging / re-pledging of securities. 2. In view of the representations by and consultations with Broker Associations and Depositories, it has been decided to widen the scope of DDPI to include: 2.1. Mutual Fund transactions being executed on Stock Exchange order entry platforms; and 2.2. Tendering shares in open offers through Stock Exchange platforms. 3. Accordingly, the following amendments are being made to the said Circular: 3.1. Para 3 shall stand modified as under: "In order to make the process more transparent and simpler, the following conditions shall be made part of a separate document viz. 'Demat Debit and Pledge Instruction' (DD ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of clearing corporation, as the case may be. The DDPI provided by the client shall be registered in the demat account of the client by TM /CM. Stock Exchanges and Depositories shall ensure that stock broker/stock broker and depository participant providing DDPI facility, has enabled its clients to revoke / cancel the DDPI provided by them." 3.3. Para 9 shall stand modified as under: "For the clients who issue the DDPI to stock broker/stock broker and depository participant, the following provisions of the SEBI circulars issued with respect to PoA shall stand replaced with DDPI: 9.1 Paragraphs 4.2.1 and 4.2.2 of SEBI circular no. SEBI/HO/MIRSD/DOP/CIR/P/2020/158 dated August 27, 2020, and Paragraphs 1(i) and 1(ii) of Annexure to th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it and Pledge Instruction S.No. Purpose Signature of Client * 1. Transfer of securities held in the beneficial owner accounts of the client towards Stock Exchange related deliveries / settlement obligations arising out of trades executed by clients on the Stock Exchange through the same stock broker 2. Pledging / re-pledging of securities in favour of trading member (TM) / clearing member (CM) for the purpose of meeting margin requirements of the clients in connection with the trades executed by the clients on the Stock Exchange. 3. Mutual Fund transactions being executed on Stock Exchange order entry platforms 4. Tendering shares in open offers through Stock Exchange platforms * the same may be signed physically against eac ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
