SEBI : Account Closure charges

SECURITIES AND EXCHANGE BOARD IF INDIA

DEPUTY GENERAL MANAGER
DEPOSITORIES AND CUSTODIAL CELL

To
All Stock Exchanges, Depositories and Custodians

Dear Sir/Madam,

DEPOSITORIES AND CUSTODIANS DIVISION — CIRCULAR NO. 12

Sub: Account Closure chargesI

n view of the representations received on not to charge Account closure charges, the matter was discussed in the meeting of Working Group on Dematerialisation held on 18^th October 2002. It has been decided that no Account closure charges be imposed on the closure of any Beneficial Owner accounts. However, the transaction charges as applicable may continued to be charged.

These instructions will come into force with effect from 1^st Nov 2002.

Yours faithfully,

Sd/-

G S REDDY