Standing Order No. 1623/2008 of the General Administration Department, Government of Tamil Nadu dated 15th May, 2008 on the custody of securities [C12-TTF]

Standing Order No. 1623/2008

GOVERNMENT OF TAMIL NADU

General Administration Department, Government of Tamil Nadu

Chennai, dated the 15th May, 2008

STANDING ORDER

To

All Assistant General Managers,

Subject: The custody of securities by custodians of securities under the Tamil Nadu Protection of Interests of Depositors Act, 1997, regarding.

In exercise of the powers conferred by section 9 of the Tamil Nadu Protection of Interests of Depositors Act, 1997 (Tamil Nadu Act 44 of 1997), the General Administration Department, Government of Tamil Nadu hereby issues the following Standing Order for the guidance of all officers subordinate to it:

1. References have been received seeking clarification on the manner in which section 9 applies to the custody of securities by custodians of securities.

2. The matter has been examined. Every custodian of securities carrying on the custody of securities shall make an application in Form G to the Depository within fifteen days, accompanied by a fee of five thousand rupees.

3. The Assistant General Manager shall ensure that statement of holdings is dealt with as directed above, and shall report compliance to the Depository within fifteen days.

4. Difficulties, if any, in the implementation of this standing order may be brought to the notice of the General Administration Department, Government of Tamil Nadu.

(Secretary to Government)