Standing Order No. 1852/2016 of the Finance Department, Government of Tamil Nadu dated 28th December, 2016 on the business of a stock broker [C1G-X06]

Standing Order No. 1852/2016

GOVERNMENT OF TAMIL NADU

Finance Department, Government of Tamil Nadu

Chennai, dated the 28th December, 2016

STANDING ORDER

To

All Deputy General Managers,

Subject: The business of a stock broker by stock brokers 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 Finance 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 business of a stock broker by stock brokers.

2. The matter has been examined. Every stock broker carrying on the business of a stock broker shall make an application in Form A to the Securities Appellate Tribunal within fifteen days, accompanied by a fee of ten thousand rupees.

3. The Deputy General Manager shall ensure that research report is dealt with as directed above, and shall report compliance to the Securities Appellate Tribunal within fifteen days.

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

(Secretary to Government)