Membership Department

 

Circular No.428

Ref. No. NSE/MEM/5548                                                                   October 26, 2004

 

To All Trading Members

 

Sub:  Surrender of certificate of registration of sub-brokers

 

The documentary requirements relating to surrender of SEBI registration of sub-brokers are given below:

 

1.      Request from Trading Member for surrender of registration of sub-broker.

 

2.      Application from Sub-broker for surrender of registration, in the format given as Annexure.

 

Please note that the said format includes a clause requesting to dispense with the procedure laid down in the SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 as amended vide SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) (Second Amendment) Regulations 2004 notified on September 2, 2004. The said clause may be retained while making the application at the option of the applicant sub-broker.

 

3.      Copy of public notification intimating the investors/general public of the surrender, issued in the local newspaper where the sub broker’s Registered office, Head Office/Corporate office is situated and another in English daily news paper with wide circulation.

 

4.      SEBI registration certificate of the sub-broker in original. In case the original certificate is lost, an affidavit to SEBI in this regard by the concerned trading member and the sub-broker separately on stamp paper of appropriate value, duly notarised.

 

Trading members are advised to take note of the above and ensure that the aforesaid documents are enclosed while forwarding the surrender requests in respect of the sub-brokers affiliated to them. 

 

In case any clarification is required on the above, please contact Mr. Amit Gangnaik/ Ms. Kshipra Joshi on phone no. 022-26598247 or 022-26598100 (extn. 4109/4110).

 

for National Stock Exchange of India Limited,

 

Sd/-         

 

T.S. Jagadharini

Asst. Vice President

 

Encl: as above


Annexure

 

Application for Voluntary Surrender of Sub-broker Registration

(Strike off the portions not applicable)

 

Securities & Exchange Board of India

Mittal Court, ‘B’ Wing,

Nariman Point,

Mumbai – 400021.

 

Dear Sir,

 

Sub: Surrender of Certificate of Registration of M/s.________________(sub-broker) Registration No. INS_____________________ affiliated to M/s.________________ ____________(broker) Registration number INB______________________.

 

We hereby surrender our certificate of registration bearing number INS______________ affiliated to M/s.______________________, Registration No.INB__________________. Please find enclosed the registration certificate in original issued to us.

 

We certify the following:

 

  1. There are no investor complaints pending against us.
  2. There is no action pending against us by SEBI/ Stock Exchange/ Any other Regulatory Authority.
  3. We have paid fees as per SEBI (Stock Brokers & Sub-brokers) Rules and Regulations, 1992.

 

We undertake to honour all the liabilities /obligations of all actions till the cancellation of the registration including any action for violation of the provisions of the SEBI Act, 1992 and SEBI (Stock Brokers & Sub-brokers) Rules & Regulations, 1992.

 

We hereby request SEBI to dispense with the procedure laid down in regulation 16 of the SEBI (Procedure for Holding Enquiry by Enquiry officer and Imposing Penalty) Regulations, 2002 while processing our request for surrender of certificate of registration.

 

Thanking you,

 

Yours faithfully,

 

 

 

(Signature of Proprietor/Managing partner/Whole time/managing Director of the Applicant Sub-broker)

Date

Stamp of the sub-broker indicating registration number