6th January 2006
Re: Corrigendum to Circular No. SEBI/MRD/SE/Cir-15/2005 dated August 04, 2005 on maintenance of books of accounts and other documents
Members are hereby informed that the Exchange has received circular no. SEBI/MRD/ SE /Cir-23/2005 dated December 22, 2005 from SEBI. The said circular, which is self explanatory, is reproduced below.
Quote
GENERAL MANAGER
Market Regulation Department
SEBI/MRD/SE/Cir- 23 /05
December 22, 2005
The
Executive Directors / Managing Director/CEO
Administrators
of All Stock Exchanges
Dear
Sir / Madam,
1.Please refer to our above said circular regarding maintenance of
books of accounts and other documents by the stock exchanges and its members
when enforcement agencies like CBI, Police, Crime Branch etc. collect the
copies of the records/documents during the course of their investigation.
2. In partial modification, the earlier point 3 which
stated as :-
“In view of the above, not withstanding anything
contained in SCRR, 1957 and the Stock Broker Regulations, you are advised to
preserve the originals of the documents, both in electronic and physical form,
copies of which have been taken by CBI, Police or any other enforcement agency
during the course of any investigation till the trial is completed.”
may please be replaced by :-
“In view of the above, you are advised to preserve
the originals of the documents, both in electronic and physical form, copies of
which have been taken by CBI, Police or any other enforcement agency during the
course of any investigation till the trial is completed.”
3. It may be noted that the other provisions of the
said circular would remain unchanged.
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 January 2006.
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)