Skip to contentSkip to left sidebar Skip to footer

Chapter-7 Operation of Securities business

 

76. Business standards: Securities business person shall, in carrying on the securities business, observe the following business principles:-
(a) To maintain the operation of securities business fair and of high standards,
(b) To carry on the securities business with proper skills, care and hard working,
(c) To keep on the higher standard of stock exchanges,
(d) To obtain information from customers as to their objective to make investment and provide services accordingly,
(e) To provide such information and advice as may be required for customers to make decision on investment in securities,
(f) To avoid conflicts of own interests with the interests of customers and, in the event of the existence of such situation, to disclose that matter to customers and carry on the securities business having regard to the interest of customers,
(g) To make such provisions as may be necessary to fulfill commitments made in relation to the securities business,
(h) To properly maintain records relating to the securities business,
(i) To provide for necessary training to employees in order to prepare skilled human resources for the operation of the securities business,
(j) To observe such other principle as prescribed in relation to the operation of the securities business.

77. Provisions relating to identification of investors, purchase and sale order, contract note and payment of money: (1) Provisions relating to obtaining the identification of the concerned investor, opening a customer account, making transaction of money and concluding an agreement relating to transactions by any securities business person prior to carrying on the securities business shall be as prescribed.

(2) Any securities business person shall, upon making a contract on the purchase, sale or exchange of securities, make a contract note before the closing of market on the following day, and where the securities business person has made such a contract as an agent, the original copy of the contract note shall be delivered to the concerned customer and where such person has made such a contract for himself, such a person shall mention that matter in the contract note and retain the note with him.

(3) The contract note referred to in Sub-section (2) shall contain, inter alia, the following matters:-

(a) Type of securities business and place where such business is operated,
(b) Where the securities business person him/herself has acted as the principal, details thereof,
(c) Name and address of the person to whom the contract note is given,
(d) Date of the contract and date on which the contract note is prepared,
(e) Description and quantity of securities,
(f) Per unit value of securities,
(g) Description relating to consideration payable under the contract,
(h) Amount or rate of commission payable under the contract,
(i) If any fee is chargeable, the rate of such fee and description pertaining thereto,
(j) Day on which account is settled or cleared r, e
(k) Such other matters as prescribed.

78. Accounts to be maintained by securities business person : (1) A securities business person shall, maintain accounts and records in such manner as to adequately support the transactions in securities and clearly reflect the financial condition of the transactions done by him/her. While preparing the balance sheet and profit and loss account, it shall be prepared in such manner as to reflect the actual affairs.

(2) The accounts and records maintained by a securities business person pursuant to Sub-section (1) shall clearly and distinctly reflect the moneys paid by his/her customers wishing to purchase securities for the purchase of securities and distinctly reflect the accounts of securities and records, as prescribed.

(3) A securities business person shall prepare and maintain the accounts and records maintained pursuant to Sub-section (1) or

(2) and relevant financial statements and reports in such manner as prescribed. (4) A securities business person shall maintain the accounts and records to be maintained pursuant to this Section in such manner so that such accounts and records can subsequently be examined or inspected easily by the Board or the inspector appointed by the Board or the auditor or the concerned stock exchange if the Board or such inspector or auditor or stock exchange desires to make such an examination or inspection.

79. Insurance to be made: Each securities business person licensed to carry on the securities business, other than an agent, shall procure insurance of the business to be carried on by him/her, as prescribed by the Board.

80. Auditor to be appointed: (1) A securities business person shall appoint an auditor from amongst the auditors enlisted by the Board.

(2) Any director, shareholder, officer employee or partner of a securities business company or body shall be deemed disqualified to be appointed as the auditor of that securities business company or body.

(3) A securities business person shall give information, indicating the name and address also of the auditor appointed by it, to the Board within seven days from the date of such appointment.

(4) If a securities business person removes any auditor from office or such an auditor resigns from office, the securities business person shall give information thereof to the Board within seven days from the date of such removal.

(5) Notwithstanding anything contained elsewhere in this Act, no employee of a stock exchange shall be eligible to be appointed as an auditor of any securities business company or body.

81. To maintain roster of auditors: (1) For the purpose of appointment of auditor pursuant to Section 80, the Board shall prepare a roster of auditors having the prescribed qualification from amongst the auditors registered under the laws enforce.

(2) An auditor who wishes to be enlisted in the roster referred to in Subsection (1) shall make an application to the Board, as prescribed. An auditor who is so enlisted shall submit to the Board such information as may be specified by the Board.

82. Submission of accounts and statements: (1) A securities business person shall submit the audited profit and loss account, balance sheet and cash flow statement and other necessary financial statements clearly reflecting the operational affairs of securities business carried on in the preceding financial year to the Board and the concerned stock exchange within three months from the date on which such a fiscal year is expired.

(2) If a securities business person fails to submit the accounts and statements pursuant to Sub-section (1) and makes an application, accompanied by the reasonable grounds for such failure, to the Board for the extension of time limit, the Board may extend the time limit for a period not exceeding three months. In the event of failure to submit such accounts and statements even within the period of time limit so extended, the Board may fine such securities business person with a sum of five thousand to twenty five thousand rupees.

(3) Notwithstanding anything contained in Sub-section (1) or (2), a securities business person who is not able to submit accounts and statements by the reason of not having them audited within the time limit may submit unaudited accounts and statements on the condition of submission of actual accounts and statements audited subsequently.

83. Report to be made by enlisted auditor to Board: If an enlisted auditor, in auditing the accounts of a securities business person, finds that such securities business person has violated the financial Bye-laws, the auditor shall prepare a separate report thereof and submit it to the Board.

30 Comments

  • 2011 Jun 1; 219 2 240 7 buy ivermectin tablets online 6 From patients case files, the following data were added intake of oral contraceptives, current and previous deep vein thrombosis DVT, coagulopathy screening factor V Leiden mutation, antiphospholipid antibodies, protein S and protein C deficiency, antithrombin III deficiency, and prothrombin G20210A mutation, and d dimer levels assessed within 24 hours after admission

  • Ideally, the computer code that is released will encompass all of the steps of computational analysis, including all data preprocessing steps, that have been described in this chapter clomid oral tablet 50 mg order online Alone, ERО”5 displayed weak hormone independent transcriptional activity that was not affected by tamoxifen or ICI 182, 780

  • The NwSVM is suitable for predicting the blood cell count dynamics and the timing of their nadirs doxycycline food Kohl Z, Uyanik G, Lurding R et al 2011 Selective bilateral hippocampal lesions after theophylline induced status epilepticus causes a permanent amnesic syndrome

  • Ah yes, this is exactly the article I was looking for. I’ve been looking for the information you provided for days. I wish you continued success

  • Bitcoin is considered the first cryptocurrency created, and other individual cryptocurrencies are known as “altcoins” (a combo word derived from “alternative coin”). It’s difficult to say which cryptos are the best ones, but Bitcoin and some of the largest altcoins out there are top-tier options because of their scalability, privacy, and the scope of functionality they support. Bitfinex offers a suite of order types to give traders the tools they need for every scenario. Discover more about our most advanced Algorithmic orders types. Last and least valuable by market cap among the best cryptocurrencies to buy is ATOM, the native token of the Cosmos Hub blockchain. ATOM is more than just a means for securing the network. It’s also a governance token, giving holders a say in how the Cosmos ecosystem should evolve. One issue with the nascent cryptocurrency space is that there are so many different, independent blockchains. This is a challenge that Cosmos aims to alleviate by making inter-blockchain communication easier, faster and less expensive. Cosmos’s ultimate aspiration is to make blockchain technology more accessible for both coders and end-users, which could pay off if blockchain tech becomes as widespread and ubiquitous as some optimists in the space expect.
    http://kafdp.or.kr/bbs/board.php?bo_table=free&wr_id=105527
    This app offers a lot of information about the crypto world. It works like a lock screen app where the notifications regarding the cryptocurrencies keep on pouring. Once the cryptocurrency exchange account is funded, the users can trade cryptocurrency by selecting their required fiat or crypto trading pair and using the available order options. If a trader desires to withdraw crypto assets, they can do so by heading to the Crypto Wallets section and requesting a transfer just like they would do in a crypto wallet app. One of the cryptocurrency apps that offers a large number of coins in America is Kucoin. Kucoin is a cryptocurrency exchange that offers a wide range of digital assets for trading. One of the key features of Kucoin is its large number of coins available for trading. It currently supports over 400 different cryptocurrencies and offers a wide range of trading pairs. This makes it a great option for traders who are looking to diversify their portfolios and trade a wide range of digital assets.

  • Euro Games Technology, sau EGT, așa cum este cunoscută în întreaga industrie a jocurilor de păcănele, a fost fondată în Bulgaria în 2002 și încă își are sediul central în Bulgaria. În 2022, EGT și-a schimbat numele în Amusnet Interactive pentru a reflecta mai bine valorile companiei. Furnizorul dezvoltă, produce și distribuie o gamă largă de produse de jocuri EGT de noroc diverse și este mândru de faptul că este renumit ca fiind una dintre companiile cu cea mai rapidă creștere din industria globală a jocurilor de noroc. Cu un portofoliu de peste 240 de păcănele gratis EGT, jucătorii au posibilitatea de a alege dintr-o gamă largă de jocuri diverse. Fiecare joc are propria temă unică, care te va atrage de primul „Spin”. Acest lucru a atras atenția profesioniștilor, care nu au ezitat să premieze jocuri ca la aparate EGT gratis pentru profesionalismul de care dau dovadă.
    http://dalgunara.kr/bbs/board.php?bo_table=free&wr_id=4060
    Gambling can be harmful if not controlled and may lead to addiction! Selectia noastra cuprinde cele mai populare jocuri de pacanele din online dar si din salile de cazino. Poti juca pentru distractie orice tip de slots de la furnziori celebri pentru jocurile de noroc online si va puteti astepta la runde bonus si rotiri gratuite la sloturile online Șeptarul este unul dintre simbolurile uzuale la sloturi online Poți încerca joc cu fructe gratis la orice casino online din România, fie păcănele demo, fie jocuri păcănele pe bani reali online sau cu un bonus de bun venit. De asemenea, poți încerca jocuri păcănele cu fructe gratis cu bonusuri fără depunere care îți permit să-ți retragi câștigurile chiar dacă nu faci nicio depunere. Playing online Slots is simple. Just browse our varied Slots selection until you find a game you like the look of. Fire it up, then spin away. You can easily adjust your bets and our games have very clear instructions about bonus features and payouts.

  • Hey there I am so thrilled I found your blog, I really found you by mistake, while I was searching on Digg
    for something else, Anyways I am here now and would just like to say cheers for a
    tremendous post and a all round thrilling blog (I also love the theme/design), I
    don’t have time to look over it all at the moment but I
    have book-marked it and also added your RSS feeds, so when I
    have time I will be back to read more, Please do keep up
    the fantastic b.

  • Apply your favorite lash adhesive along lash band. Refer to the instructions on the glue for how best to apply it. Then, leave it for around 30 seconds until it dries to a tacky consistency. This will avoid it dripping into your eyes! Stay calm and take a deep breath, eyelash extensions falling out might not be a sign of doom and gloom. We understand that seeing your beautiful extensions on your pillow or in the sink can cause you to jump to conclusions, so before you do, we’d like to shed some light on common causes so you can take the right action. False eyelashes are never one-size-fits-all and most are made much longer than the average person’s lash line. Before applying your false lashes, measure the false lashes against your lash line and trim if necessary. Without this step, you risk applying lashes that are way too wide for your eyes and hang off the outer edge of your eyes… not a cute look!
    https://lanesurp307413.blogspothub.com/22907487/best-lash-primer-for-extensions
    Still, take note that this is only a semi-permanent lash treatment. It means that your perfectly-curled and tinted lashes will start to limp back to their natural state around 4 to 6 weeks after the treatment.  After all the prep work is done – the lash lifting actually begins. A three part series of special lotions and creams are carefully applied and removed to do their magical thing! An optional tint will be applied and removed as well. This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

  • If you’re planning to get started on your Casumo casino experience in the UK, you can expect to be greeted with a Casumo UK welcome bonus when you sign up. As soon as you create an account at their mobile app or website, you will get 20 free spins to try your hands at the Book of Dead Game. This offer stands regardless of whether you make any deposit or not. And if you go on to make a deposit, you are in line for a more significant 100% welcome bonus. As a dedicated online gambling destination for players from Canada, Casumo has an exclusive welcome bonus for Canadians. This 100% up to CA$500 first deposit bonus comes with a CA$10 minimum deposit and 30x wagering requirements. It also includes 20 free spins on Jammin’ Jars. Even though Casumo is one of our favourite casino venues, we found some disadvantages that they may improve. There are no special Live dealer Casumo promotions, although the standard casino welcome bonus is available for wagering on live games, and this may disappoint some of their customers. In case you are one of these players, check out our alternative casinos below.
    https://troyefcz740045.thenerdsblog.com/25289826/casino-online-real-money-app
    Live casino bonus 200 offers are available for players who choose to play the live versions of their favorite slots and games. If you love playing live games in a casino, claim your bonus but check with the casino first to ensure that they offer a 200 casino bonus both in online and in brick and mortar casinos. While most 200% casino bonuses are aimed at newcomers, there is a possibility that you might be able to claim a 200% welcome bonus UK even if you’re an existing player. A 200 deposit bonus casino UK may create special promotions for those who are already members. These deals can be found in the Promotions section of that gaming platform, and they can be redeemed beyond your first deposit. B. Deposit min. €200 (max. €1,000) but beware you must be affiliated with Bonus Tiime to be able to benefit from the offer. Please do not play with your deposit or the bonus will not be activated. If you do not know how to deposit in crypto you can read our tutorial on “How to deposit on Stake with Binance?“.

Leave a comment

Your email address will not be published.