INDIA CODE

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Circular SEBI/HO/MRD/CIR/P/2020/2778 of the Securities and Exchange Board of India dated 26th February, 2020 on the business of an intermediary [C11-VMF]

As at 6 September 2026. In force. No commencement recorded.

Dates: made 26 February 2020; in force not recorded; ceased none recorded. Gazette: none recorded. Band B.

Synthetic. This instrument, its title, its number and its words are generated by the register, beneath the Act its recital names.

Cite: Circular SEBI/HO/MRD/CIR/P/2020/2778 of the Securities and Exchange Board of India dated 26th February, 2020 on the business of an intermediary, Circular SEBI/HO/MRD/CIR/P/2020/2778, 26th February, 2020 [C11-VMF]. Machine: C11-VMF.

SEBI/HO/MRD/CIR/P/2020/2778

Securities and Exchange Board of India

Mumbai, dated the 26th February, 2020

CIRCULAR

To

All adjudicating officers,

Subject: The business of an intermediary by intermediaries under the Securities and Exchange Board of India Act, 1992, regarding.

This circular is issued in exercise of the powers conferred under section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market

1. References have been received seeking clarification on the manner in which section 9 applies to the business of an intermediary by intermediaries.

2. The matter has been examined. Every intermediary carrying on the business of an intermediary shall make an application in Form C to the Board within forty-five days, accompanied by a fee of one thousand rupees.

3. It is, accordingly, clarified that a separate application shall be made in respect of each place at which the business of an intermediary is undertaken, and the Board shall dispose of it within forty-five days of its receipt.

4. Difficulties, if any, in the implementation of this circular may be brought to the notice of the Securities and Exchange Board of India.

(Chief General Manager)

Made under

Recital: "This circular is issued in exercise of the powers conferred under section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market". Names section 9 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) [S1W-XPB]. Vires verified.

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Circular SEBI/HO/MRD/CIR/P/2020/2778 of the Securities and Exchange Board of India dated 26th February, 2020 on the business of an intermediary [C11-VMF]