31st march,
2008
Members are hereby informed that the Exchange has
received a Circular Ref. No MRD/DoP/Cir-05/2007 dated April 27, 2007 from SEBI
further to its Circular No. MRD/DoP/SE/Dep/Cir-14/2007, dated 20th
December 2007 notified to the members vide Notice dated 21st January
2007. The contents of the said Circular are given here under for information of
the members.
Chief General
Manager
Market Regulation Department-Division of
Policy
E-mail: mdrao@sebi.gov.in
MRD/DoP/SE/Cir- 05 /2008
March 19, 2008
1. The Executive Directors/Managing Directors/Administrators of all Stock Exchanges
Dear Sir /
Madam,
Sub:- Operationalisation
of Short Selling and Securities Lending and Borrowing
3.1 make necessary amendments to the relevant
bye-laws, rules and regulations for the implementation of the above decision.
3.2 bring the provisions of this circular to the
notice of the member brokers/clearing members, depository participants and also
disseminate the same on their website.
3.3 communicate to SEBI, the status of the implementation
of the provisions of this circular in the Monthly Development Report.
4.. This circular is
being issued in exercise of powers conferred under Section 11 (1) of the
Securities and Exchange Board of India Act, 1992 and Section
19 of the Depositories Act, 1996, to protect the interests of investors
in securities and to promote the development of, and to regulate the securities
market.
Yours faithfully,
S V Murali Dhar Rao
The members are
requested to note the aforesaid guideline of SEBI and act accordingly.
Secretary