BSE issues amendment to Regulations of certain segments

Jul 29, 2021 | by Avantis RegTech Legal Research Team

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Commercial Compliance

The Bombay Stock Exchange (BSE) on July 29, 2021 has issued amendments to Regulations of Capital Markets Segment, Futures and Options Segment and Commodity Derivatives Segment of the Exchange.

The amendments are as followed:

[Capital Market Segment Regulations]

Regulation 3.3.5 under Chapter 3, which specifies, Dealings in Securities 

In the event, a member applies for surrender of his membership, the deposits/margin of such member lying with the Exchange shall be retained/dealt with in accordance with circulars/directions issued by SEBI/the Exchange from time to time.

The Exchange will return/refund the amount(s)/deposits of such member after adjusting the same against any outstanding obligations/liability of such member, to the member or his/her heirs or legal representatives in accordance with the provisions contained in the Rules, Bye-laws and Regulations of the Exchange.

[Futures and Options Segment Regulations]

Regulation 3.9.8 under Chapter 3, which specifies, Dealings in Derivatives Contracts 

In the event, a Trading Member applies for surrender of his membership, the deposits/margin of such Trading Member lying with the Exchange shall be retained/dealt with in accordance with circulars/directions issued by SEBI/the Exchange from time to time.

The Exchange will return/refund the amount(s)/deposits of such Trading Member after adjusting the same against any outstanding obligations/liability of such Trading Member, to the Trading Member or his/her heirs or legal representatives in accordance with the provisions contained in the Rules, Bye-laws and Regulations of the Exchange.

[Commodity Derivatives Segment Regulations]

Regulation 3.9.3A under Chapter III – Dealings in Commodity Derivatives 

In the event, a Trading Member applies for surrender of his membership, the deposits/margin of such Trading Member lying with the Exchange shall be retained/dealt with in accordance with circulars/directions issued by SEBI/the Exchange from time to time.

The Exchange will return/refund the amount(s)/deposits of such Trading Member after adjusting the same against any outstanding obligations/liability of such Trading Member, to the Trading Member or his/her heirs or legal representatives in accordance with the provisions contained in the Rules, Bye-laws and Regulations of the Exchange.

[Notice No. 20210729-4]

 


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