6th September 2005
Members are hereby informed that the Exchange has received circular no. SEBI/MRD/ SE /Cir-15/2005 dated August 4, 2005. The said circular, which is self explanatory, is reproduced below.
Quote
GENERAL MANAGER
Market
Regulation Department
Division
of Policy
SEBI/MRD/SE/Cir-15/2005
August
4, 2005
The Executive Directors / Managing Director/
Administrators of All Stock Exchanges
Dear Sir / Madam,
Sub: Maintenance of books of
accounts and other documents
1. In terms of Rules 14 and 15 of Securities Contracts
(Regulation) Rules, 1957 (hereinafter referred to as SCRR, 1957), every
recognized stock exchange and its members are required to maintain and preserve the specified books of
account and documents for a period ranging from two years to five years. Further, as per regulation 18 of SEBI (Stock
Brokers & Sub-brokers) Regulations, 1992 (hereinafter referred to as Stock
Broker Regulations), every stock broker shall preserve the specified books of
account and other records for a minimum period of five years.
4. All
the Stock Exchanges are advised to:-
a) implement the above with
immediate effect by making necessary amendments to the bye-laws and Listing
Agreement, as applicable ;
b) to bring the provisions of this
circular to the notice of their members of the exchange and also to put up the
same on the website; and
c) communicate to SEBI the status
of the implementation of the provisions of this circular and the action taken
in this regard in Section II, item no. 13 of the Monthly Development Report for
the month of August 2005.
5.
This circular is being issued in
exercise of the powers conferred by Section 11(1) of Securities and Exchange
Board of India Act, 1992 to protect the interest of investors in securities and
to promote the development of, and to regulate, the securities market.
Yours faithfully
V S
SUNDARESAN
Members are advised to note and ensure compliance with the provisions of the aforesaid circular .
(Secretary)