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In the meeting held on September 18, 1996 at SEBI, where representative of all Stock Exchanges were present, the bad delivery cell procedures were finalized. It was unanimously agreed that bad-delivery cell at all Stock Exchanges would start functioning within one month.
Custodians shall adopt the Uniform Good/Bad Delivery Norms, including norms for rectification of bad deliveries through Bad Delivery Cell, framed by SEBI and circulated to all the stock exchanges, as amended from time to time.
The no delivery period observed by custodians should be in accordance with the norms specified by the relevant exchange.
directed to call for the details of Governing Board/Council meetings attended by the existing/old Public Representatives Director on your Exchange. You are requested to send us the information in the following format.
Please treat this as MOST URGENT, as the reply to the Question is to the sent to the Government by September 4, 1996, and, therefore, you are requested to please arrange to send the information by Fax, so as to reach us latest by September 03, 1996.
The Executive Directors/Managing Directors of all the Exchanges are requested to take note of the above and ensure that these matters are placed in the Board Meetings along with all the relevant details in this regard.
Please refer to our Fax message dated August 20, 1996. You are further requested to furnish us the information in the following format for the period from April 1995 to August 20, 1996.
Non-maintenance or improper maintenance of Books of Accounts which are required to be maintained as per Rule 15 of SC (R) Rules, 1957 and Regulation 17 of SEBI (Brokers and Sub-Brokers) Regulations 1992.
The validity period of Company Objection by the last buying broker to be notified to the Exchange/introducing broker will be 36 months from the date of payment by the buyer.
The transferor has paid SEBI turnover fee for all the previous years including that related to transactions of current year. There are no fee dues payable to SEBI by the transferor member.