THE GAZETTE OF INDIA

EXTRAORDINARY

PART –II – SECTION 3 – SUB SECTION (ii)

PUBLISHED BY AUTHORITY

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, the ___day of September, 2003

SECURITIES AND EXCHANGE BOARD OF INDIA

(STOCK BROKERS AND SUB- BROKERS) (AMENDMENT) REGULATIONS, 2003

S.O. No. (E). In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Stock Brokers And Sub-Brokers) Regulations, 1992, namely:-

1. (i) These regulations may be called the Securities and Exchange Board of India (Stock Brokers And Sub-Brokers) (Amendment) Regulations, 2003.

(ii) They shall come into force on the date of their publication in the Official Gazette.

2. In Securities and Exchange Board of India (Stock Brokers And Sub-Brokers) Regulations, 1992 –

(i)  In regulation 11,

(a) in sub-regulation (5), after clause (ii), following sub-clauses shall be inserted, namely :-

“(iii) The applicant has the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge his activities.”

(iv) The applicant shall be a person recognized by the stock exchange

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