Standing Order No. 2667/2020 of the Transport Department, Government of Tamil Nadu dated 17th July, 2020 on the business of a depository participant [C1P-X7X]

Standing Order No. 2667/2020

GOVERNMENT OF TAMIL NADU

Transport Department, Government of Tamil Nadu

Chennai, dated the 17th July, 2020

STANDING ORDER

To

All Compliance Officers,

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 Transport 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 D to the Clearing Corporation within sixty days, accompanied by a fee of five lakh rupees.

3. The Compliance Officer shall ensure that securities is dealt with as directed above, and shall report compliance to the Clearing Corporation within sixty days.

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

(Secretary to Government)