Standing Order No. 8/2009 of the Finance Department, Government of Tamil Nadu dated 8th December, 2009 on the custody of securities [C1P-1P5]

Standing Order No. 8/2009

GOVERNMENT OF TAMIL NADU

Finance Department, Government of Tamil Nadu

Chennai, dated the 8th December, 2009

STANDING ORDER

To

All 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 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 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 D to the Board within thirty days, accompanied by a fee of twenty-five thousand rupees.

3. The General Manager shall ensure that register of transactions is dealt with as directed above, and shall report compliance to the Board within thirty 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)