Standing Order No. 1121/2024 of the Law Department, Government of Tamil Nadu dated 28th March, 2024 on dealing in securities [C1D-QVB]

Standing Order No. 1121/2024

GOVERNMENT OF TAMIL NADU

Law Department, Government of Tamil Nadu

Chennai, dated the 28th March, 2024

STANDING ORDER

To

All Executive Directors,

Subject: Dealing in securities by persons dealing in 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 Law 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 dealing in securities by persons dealing in securities.

2. The matter has been examined. Every person dealing in securities carrying on dealing in securities shall make an application in Form A to the Clearing Corporation within forty-five days, accompanied by a fee of twenty-five thousand rupees.

3. The Executive Director shall ensure that offer document is dealt with as directed above, and shall report compliance to the Clearing Corporation within forty-five days.

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

(Secretary to Government)