Standing Order No. 1856/2021 of the Excise Department, Government of Tamil Nadu dated 4th July, 2021 on the business of a depository participant [C1N-29A]

Standing Order No. 1856/2021

GOVERNMENT OF TAMIL NADU

Excise Department, Government of Tamil Nadu

Chennai, dated the 4th July, 2021

STANDING ORDER

To

All General Managers,

Subject: The business of a depository participant by depository participants 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 Excise 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 depository participant by depository participants.

2. The matter has been examined. Every depository participant carrying on the business of a depository participant shall make an application in Form C to the Securities Appellate Tribunal within ninety days, accompanied by a fee of one thousand rupees.

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

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

(Secretary to Government)