17/01/2013
Notice
Members
are requested to note that SEBI vide Circular No MIRSD/
DR-1/ Cir-16/09 dated November 06, 2009 had decided to allow SEBI registered
stock brokers (including trading members) of stock exchanges to provide access
to clients through authorized persons.
Amendments to the Bye–laws of the
Exchange have been carried out in line with the aforesaid SEBI circular
Trading Members who wish to appoint
Authorized Persons (APs) or cancel the appointment are advised to submit their
application and other documents to the Exchange as per the enclosed formats.
The general instructions and checklist of documents in this regard are enclosed
as Annexures AAP-1 to AAP-11.
Annexure AAP -1
General Instructions for
submission of documents and supporting thereof for appointment of Authorised
Person
a) All documents should be strictly as per format prescribed by the
Exchange and should be completely filled in and signed and stamped by the
relevant authorized signatory (ies) as stated in the formats.
b) Applications must be accompanied by payment favouring ‘The Calcutta Stock Exchange Limited’ for Rs 2000/- per application per authorised person plus Service Tax @ 12.36%.
c)
Please strike out which is not
applicable where options are provided. For e.g. Individual / Partnership firm
/Corporate /LLP. Alternatively, the correct option only may be stated. For e.g.
if the authorised person is an individual, only “individual“ has to be specified.
d)
Shareholding
Pattern / Sharing Pattern and details of directors/ partners /sole proprietor/
individual should not be more than six months old as on date of application and
should be CA / CS certified. (practising CA/CS)
e) Agreement
between trading member and proposed Authorised Person should be executed on non judicial stamp paper of requisite value or
franked with stamp duty of requisite value or the requisite stamp duty thereon
is paid through any other permissible manner. It should be purchased in the name of the
member or the authorised person. It should be signed by Sole
Proprietor/Individual / Designated Partner / Designated Director /Authorised
signatory of Trading Member and Sole Proprietor/Individual / Partner / Director
/Authorised signatory of Authorised Person. A
certified true copy of the agreement should be submitted to the Exchange. It has to be certified as true copy and also
signed on all pages by Sole Proprietor/Individual/ Designated Partner/
Designated Director of the trading member.
f) All copies
submitted as proof have to be signed and stamped by Sole
Proprietor/Individual/ Designated Partner/ Designated Director of Trading
Member
g) Equity
Derivatives Certification Examination# – The
validity of the certificate(s) should be more than three months as on the date
of application
# It is applicable for
authorized persons who wish to trade in equity derivative segment
of NSE/BSE u/s 13 SCRA.
h) Sole
Proprietor/Individual / Partners/Directors of applicant Authorised Person to be at least 18
years of age. – As proof of age, certified copy of PAN Card /Driving
Licence/School leaving certificate/SSC Certificate/Passport should be submitted
i)
Sole Proprietor/Individual/Partners/Directors of
proposed Authorised Person should have minimum educational qualification of 10th
standard pass or equivalent examination from an institution recognised by
Government. As
proof of Educational qualifications certified copy of latest
qualification certificate / mark sheet/ passing certificate has
to be submitted
j)
Proof of Registered
Office Address/ Head Office address -Certified true copy of Landline Telephone Bill, Electricity bill,
Rent Agreement, Bank pass book, Voters id, Driving License, Passport, Bank
Statement, Trade license agreement, Shop
Establishment Certificate should be submitted
k) Proof of
Residential Address – Certified true copy of Landline Telephone Bill, Electricity bill, Rent Agreement, Bank
pass book, Voters id card, Driving License, Passport, Bank Statement, Ration
card, should be submitted
l)
Please note that Landline Telephone bill,
Electricity bill, Bank passbook, Bank statement submitted as proof should be
the latest ones only.
m) In
case the name of the Authorised Person as per the application submitted differs
from that of the above mentioned documents submitted as supportings, a
certified true copy of gazette notification / Marriage Certificate/
Affidavit should be submitted.
n) Certified
copy of Registered Partnership Deed / LLP Agreement / Memorandum of Association
(including certificate of incorporation) of the applicant Authorised Person
(not applicable in case applicant Authorised Person is a proprietor
concern). Memorandum of Association
(main object clause)/Partnership Deed/LLP Agreement should consist
of an object clause permitting the entity to deal in securities business.
o)
Change of affiliation from one member to another -In case the Authorised Person wishes
to change his / her / their affiliation from one member to another member, the
existing member has to submit an application for cancellation of appointment of
Authorised Person and the new affiliating member has to submit an application
for proposed appointment of the Authorised Person. The charges for processing
application for cancellation of appointment and also processing application of
appointment will have to be paid by the respective members.
p)
§ Proprietor of authorized person should :
- Not be a Trading Member of the Exchange
- Not be a registered authorized person of any other trading member of the Exchange
- Not a Proprietor/Partner/Director of any other trading member.
Have a good reputation and character.
§ Proprietor of Authorised Person :
- Is not a defaulter in any other Stock Exchange.
- Is not appearing in SEBI debarred Directors/ Vanishing Companies List
- Has not been convicted of any offence involving fraud or dishonesty
Not appearing in CIS and Non CIS list or CIBIL
database.
q)
§ The Partners of applicant AP should :
- Not be a TM of the Exchange
- Not be a registered AP of any other TM of the Exchange
- Not a Proprietor/Partner/Director of any other TM
Have
a good reputation and character
§ The Applicant AP or its Partners are :
- Not a defaulter in any other Stock Exchange
- Not appearing in SEBI debarred Directors/ Vanishing Companies List
- Has not been convicted of any offence involving fraud or dishonesty
Not
appearing in CIS and Non CIS list or CIBIL database
r)
§ The Directors of applicant AP should :
- Not be a TM of the Exchange
- Not be a registered AP of any other TM of the Exchange
- Not a Proprietor/Partner/Director of any other TM
Have a good reputation and
character
§ The Applicant AP or its Directors are :
- Not a defaulter in any other Stock Exchange
- Not appearing in SEBI debarred Directors/ Vanishing Companies List
- Has not been convicted of any offence involving fraud or dishonesty
Not appearing in CIS and Non CIS list or CIBIL database
s) Trading Member of the authorized person should not be disabled or suspended and no
disciplinary action is pending or initiated by any regulatory authorities against the
trading member.
Annexure AAP -2
APPLICATION FORM FOR APPOINTMENT OF AUTHORISED PERSON
(On the letterhead of the Trading Member, to
be filled in completely
and signed and stamped by Trading Member)
Membership Department
The Calcutta Stock Exchange Limited
7, Lyons Range,
Kolkata - 700 001
Dear Sir/Madam,
Sub : Application for approval for appointment of authorised person
I/We ________________________ am/are
______________________________(Please specify Trading member) of the Exchange, having Member ID
______________ and SEBI Registration No: ____________.
I/ We propose to appoint the following
person(s)/ entity (ies) as Authorised Person(s) in the Equity Derivatives segment of the Exchange, in accordance
with the framework of SEBI / Exchange governing the market access through
authorized persons.
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Sr. No. |
Name of Proposed Authorised Person |
Constitution – Please specify
–Individual/Sole proprietorship/ Registered Partnership Firm /Corporate / Limited Liability
Partnerships |
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I / We hereby recommend the above mentioned
applicant (s) as authorised person(s).
I / We confirm that the above stated facts are true and correct
and I / We have not misrepresented and / or concealed /suppressed any material
facts in this regard.
I / We are also aware that in the event of any false / incorrect
particulars furnished by me/ us or any misrepresentation of facts / suppression
/concealment of facts by me /us, our application is liable to be rejected / the
approval granted by the Exchange may be withdrawn/ cancelled without giving any
reasons and that the decision of the Exchange in this regard shall be final.
I / We undertake to comply with all relevant Regulations and
circulars of SEBI and Byelaws / Rules/ Regulations and circulars of the Exchange
from time to time.
I /
We request you to grant your approval for my / our proposed appointment of
Authorised Person(s).
Please find enclosed in this regard:-
1. Documents along with the checklist as per Annexure –AAP3 (Please provide
separate checklist and separate set of documents for each proposed authorised person)
2. Payment as per details given
below :-
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Cheque / DD/ Pay order No |
Date of Cheque / DD/ Pay order
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Drawn on (Name of the bank and branch) |
Amount (Rs.) (including Service Tax@12.36%) |
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For any further communication in
this regard, please contact the undersigned or Mr. / Ms. / Mrs. ________ (Name
and Designation) on ________ (contact numbers) / email id ______________.
For _________ (name of member) For
_________ (name of member)
Name and signature of Name and signature of
Designated Director /Designated Partner Designated Director /Designated Partner
/Sole Proprietor/ Individual
Encl: as above
Place:
Date:
Stamp of member
Annexure AAP -3
Checklist of documents enclosed along with
application for approval of appointment of Authorised PERSON
I. Checklist
(Please submit separate checklist for each
proposed Authorised person)
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Sr No |
Particulars |
Annex. No |
Enclosed (Y/N/ NA) |
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1 |
Details of Proposed
Authorised Person |
AP-4 |
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2. |
Undertaking from
proposed Authorised Person |
AP-5 |
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3 |
Shareholding Pattern and
details of directors with CA /CS certificate ( in case of corporate) |
AP-6 |
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4 |
Sharing Pattern and
Capital / Details of Partners with CA certificate (in case of Partnership
Firm / LLP) |
AP-7 |
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5 |
Details of Sole
Proprietor /Individual with CA certificate |
AP-8 |
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6 |
Certified
copy of the agreement between trading member and proposed Authorised Person |
AP-9 |
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7 |
Certified copies of
valid NISM certifications of Sole
Proprietor/Individual/Directors/Partners (applicable only if
terminal is allotted to
AP)
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8 |
For sole proprietor /
individual/ partners /directors Proof of :- a) PAN
(certified copy of PAN Card) b) Date
of Birth c) Educational
Qualification d) Registered
Office Address of Corporate /Head office Address of Partnership Firm / LLP/
Individual/Sole Proprietor e) Residential
address of Sole Proprietor/ Individual /Partners/Directors of
Authorised Person ( AP) |
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9 |
Certified copy of
Registered Partnership Deed / LLP Agreement / Memorandum of Association
(including certificate of incorporation) of the applicant Authorised Person
(not applicable in case applicant AP is a Sole Proprietor / individual) |
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10 |
Processing fees*
favouring The Calcutta Stock Exchange Ltd for Rs 2000/- per authorised person
application plus Service Tax @12.36%. |
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* Kindly ensure that the validity
of Cheques/Drafts/Pay Orders/Banker’s Cheque presented is not beyond the period
of three months from the date of issue.
For _________ (name of member) For
_________ (name of member)
Name and signature of Name
and signature of
Designated Director /Designated Partner Designated Director /Designated
Partner
/Sole Proprietor/ Individual
Place:
Date:
Annexure – AAP-4
DETAILS OF THE PROPOSED AUTHORISED PERSON
(To be submitted on letterhead of member)
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1.Name (Please write
full name in Block Letters) |
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2.Trade Name (in block
letters) if applicable |
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3. Constitution
(Individual/ Registered Partnership firm / corporate / Limited liability partnership - LLP) |
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4. Date of birth in case of individual /Date
of incorporation of corporate or LLP /Date of registration
of Partnership firm |
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5. Complete
Correspondence Address and also Registered office / Head Office address |
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City: |
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Pin Code: |
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Contact Nos – STD Code- Land
lines Mobile Nos |
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Name of contact person and designation |
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Email Address |
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Website, if any |
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6. Details of membership /sub- brokership/
authorised person etc on other stock exchanges (including regn.no., if any) |
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7. Details of
Infrastructure: Number
of branch offices Total
area in sq. feet (of all main/branch offices) Total
No. of Dealers Total
No. of Terminals Branch-wise details of Location, phone, and fax
numbers |
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We
hereby confirm that all the above details and facts are true and correct.
For _________ (name of member) For
_________ (name of member)
Name and signature of Name
and signature of
Designated Director /Designated Partner Designated Director /Designated
Partner
/Sole Proprietor/Individual
Place:
Date:
Annexure – AAP-5
UNDERTAKING #
I/We Mr./Ms./M/s.
________________________ (name of the
applicant authorised person) have applied for appointment as
Authorised Person of __________________________ (name of the Trading member) on
the Currency Derivatives segment of the
Exchange. In this regard, I/We hereby confirm/undertake that:
1.
I / We comply with all the criteria
laid down by SEBI/ Exchange for being an Authorised Person.
2.
I/We undertake to comply with all
the relevant circulars issued by SEBI and the Exchange from time to time on all
matters relating to Authorised Person including that of conditions of
appointment.
3.
I / We and our partners/directors
have not been convicted for any offence in the past and presently am not / are not under trial for any offence
involving fraud and dishonesty.
4.
I/We and our partners/directors/ am
/are neither an Authorised Person of any other member of the Exchange and nor
have applied for appointment as Authorised Person with any other member of the
Exchange.
5.
I/ We confirm that I/We am /are not
defaulter in any other stock exchange.
6.
I/ We am / are not appearing in
SEBI debarred Directors/ Vanishing Companies List, CIS and Non CIS list and CIBIL
database.
For _________ (name of Authorised
person)
Name and signature of Sole
Proprietor/Individual /
Partner/ Director
Stamp of Authorised Person
Place:
Date:
# on the letterhead of the Authorised person
Annexure – AAP- 6
SHAREHOLDING PATTERN AND DETAILS OF DIRECTORS OF _______________
(On letterhead of corporate –Proposed Authorised
person)
Shareholding Pattern of _______(name of proposed Authorised Person) as
on ______(date)
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Sr. no. |
Name in full** |
No. of shares held |
Amt. Paid up (Rs.) |
% of total |
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3 |
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Others |
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TOTAL |
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100% |
Details of Directors as on _______________
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Sr No |
Name in Full ** |
Father Name $ |
Date of Birth |
Completed Age (in Years) |
Educ. Qualif. |
PAN |
Residential Address & Telephone/ Mobile Nos./ Email ID/ Fax No. |
Has passed NISM Certification (Yes / No) |
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1 |
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2 |
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3 |
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** All initials to be expanded (full name to be indicated)
For _____________ Name of the corporate
Name, designation and signature of
of the Director
of corporate
Stamp of the corporate
Place:
Date:
CERTIFICATE (Practising
C A / CS)
This is to certify that the Shareholding Pattern and details of
Directors of ______________ as on
_________ stated above is based on my/ our scrutiny of the books of accounts,
records and documents and is true and correct to the best of my/our knowledge
and as per information provided to my/our satisfaction.
For (Name of Certifying Firm)
Signature and Name of the Partner/Proprietor
Chartered Accountant/ Company Secretary
Membership Number
Stamp of the Chartered Accountant / Company Secretary
Place:
Date:
Annexure – AAP-7
CAPITAL & SHARING PATTERN AND DETAILS OF PARTNERS OF _______________
(On letter
head of the firm/ LLP- Proposed Authorised person)
Capital and Sharing Pattern of _____________________ (name of proposed Authorised Person) as
on __________________(date)
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Sr. no. |
Name of the Partner ** |
Capital in the Firm (Rs.) |
Share in Profits |
Share in Losses |
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TOTAL |
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100% |
100% |
Details of Partners as on ________
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Sr No |
Name
in Full ** |
Father ‘s Name |
Date of Birth |
Completed Age (in Years) |
Educ. Qualif. |
PAN |
Residential Address & Telephone/ Mobile Nos./ Email ID/ Fax No. |
Has passed NISM Certification (Yes / No) |
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1 |
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2 |
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** All initials to be expanded (full name to be indicated)
For ______________ (name of the firm)
Name and Signature(s) of partner(s)
Stamp of the firm
Place:
Date:
CERTIFICATE (by
Practising C A)
This is to certify that the Capital,
Sharing Pattern and details of
Partners in M/s
______________ as on _________
as given above is based on my/ our scrutiny of the books of accounts,
records and documents and is true and correct to the best of my/our knowledge
and as per information provided to my/our satisfaction.
For (Name of Certifying Firm)
Signature and Name of the Partner/Proprietor
Chartered Accountant
Membership Number
Stamp of the Chartered Accountant
Place:
Date:
Annexure – AAP-8
DETAILS OF SOLE PROPRIETOR/ INDIVIDUAL
(PROPOSED AUTHORISED PERSON) AS ON ___
(On letterhead of Proposed authorised person)
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Sr No |
Name in Full
** |
Father’s Name
|
Date of Birth |
Completed Age
(in
Years) |
Education. Qualifications |
PAN |
Has
passed NISM
Certification (Yes
/ No) |
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** All initials to be expanded (full name to be indicated)
For _____________ (Name of the sole proprietor
firm/ Individual)
Signature of Sole Proprietor / Individual
Stamp
CERTIFICATE (Practising C A)
This is to certify that the details of
______________ as given above, based on my/ our scrutiny of the books of
accounts, records and documents is true and correct to the best of my/our
knowledge and as per information provided to my/our satisfaction.
For (Name of Certifying
Firm)
Signature and Name of
the Partner/Proprietor
Chartered
Accountant
Membership Number
Stamp of the Chartered
Accountant
Place:
Date:
Annexure – AAP-9
MODEL AGREEMENT BETWEEN TRADING MEMBER
AND AUTHORISED PERSON
This
Agreement (hereinafter referred to as “Agreement”) is entered into on this ____
day of ___________ 20__, by and between
________________(name of the trading member), a ……………..(please
specify corporate/ registered partnership firm/ sole proprietor/individual)
and a Member(hereinafter referred to as "the Member") of currency derivative segment of The Calcutta Stock Exchange
Limited (hereinafter referred to as “the Exchange”) ordinarily carrying on
business in sale and purchase of securities in the name and style of
____________(trade name of the Member) from ___________________ (date to be
specified) and having its/ registered office / his office at _______________________
( address), which expression shall, unless repugnant to the context or meaning
thereof, be deemed to mean and include his/her heirs, executors, administrators
and legal representatives/the partners for the time being of the said entity,
the survivor or survivors of them and their respective heirs, executors,
administrators and legal representatives/its successors, as the case may be, of
the One Part;
AND
________________(name of the Authorised Person), an
individual/body corporate /registered partnership firm/ Limited Liability
Partnership, (hereinafter referred to
as "the Authorised Person".) and having his/its office/registered
office at … … … … … … … … … … … … … … … … (address), which expression shall,
unless repugnant to the context or meaning thereof, be deemed to mean and
include his/her heirs, executors, administrators and legal representatives/the
partners for the time being of the said entity, the survivor or survivors of
them and their respective heirs, executors, administrators and legal representatives/its
successors, as the case may be, of the Other
Part;
WHEREAS
(i).
The Member holds a certificate of registration as a
Trading member of the Exchange granted under the Securities and Exchange Board
of India (Stock Brokers and Sub-Brokers) Regulations, 1992, bearing SEBI
Registration Number------------- -------.
(ii).
The Authorised Person is desirous of providing access to clients of the Member to the currency derivative
segment of the Exchange, as an agent of the Member and applied to the Member for
the same.
(iii).
Securities and Exchange Board of India (“SEBI”) has vide
its Circular MIRSD/DR-1/Cir-16/09 dated 6th November 2009 (“SEBI
Circular”) prescribed the Regulatory Framework for Market Access through
Authorised Persons which allows SEBI registered stock brokers (including
trading members) of stock exchanges to provide access to clients through
authorised persons.
(iv). The Member
is satisfied about the eligibility requirements of the Authorised Person as
stipulated by SEBI Circular and such other requirements that have been
prescribed by SEBI and/or the Exchange from time to time and pursuant to the
application for being appointed as authorised person, the Member has given such
permission to the Authorised Person subject to this agreement.
NOW THEREFORE this agreement witnesseth as
follows:
1.
The Authorised Person agrees
to provide access to currency derivative segment of the Exchange as an agent of
the Member.
2.
The Authorised Person hereby agrees to comply and act in
accordance with the requirements specified by SEBI, and the Exchange in its
Byelaws, Rules, Regulations and Circulars issued from time to time.
3.
The Authorised Person hereby
represents and confirms that,
§
he/it satisfies the
requirements of authorised person prescribed under SEBI Circular and
other Circulars that have been issued by SEBI and/or the Exchange from time to
time.
§
he/it and its partners/directors is/are not affiliated as
an authorised person of any other member of the currency derivative segment of the Exchange.
§
he/it has the necessary infrastructure including adequate
office space, equipment and manpower to effectively discharge his/its
activities.
4.
The parties agree that the clients shall be registered
with the Member only, and that the funds and securities of the clients shall be
settled directly between the Member and client and all documents like contract
note, statement of funds and securities would be issued to the clients by the
Member only.
5.
The Authorised Person hereby agrees to provide
administrative assistance to the Member in procurement of documents and
settlement and other related activities.
6.
The Authorised Person shall commence its operation as an
agent of the Member only after obtaining the specific prior approval of the
Exchange.
7.
The Authorised Person agrees not to receive nor pay any
funds /securities in his/its own name or account. All receipts and payments of
securities and funds shall be in the name and/or on account of the Member only.
8.
All acts of omission and
commission of the Authorized Person and/or his/ its employees shall be deemed to be those of the Member.
9.
The Member shall be
responsible for all acts of omission and commission of the Authorized Person
and/or his/their employees, including liabilities arising therefrom.
10.
On noticing irregularities, if
any, in the operations and conduct of Authorised Person, the Member shall be
entitled to seek withdrawal of approval, withhold all moneys due to Authorised
Person till resolution of investor problems/ complaints, alert investors in the
location where Authorised Person operates, file a complaint with the police,
and take all measures required to protect the interest of investors and market.
11.
In the event of withdrawal of the Authorised Person
approval, the Member shall ensure that investors/general public are informed
about cancellation of appointment of the Authorised Person.
12.
The Member agrees to maintain
separate records including accounts in respect of the dealings in securities
entered into on behalf of the individual client’s dealing, with bifurcations
showing the dealings undertaken through the Authorised Person.
13.
The Member shall notify
changes, if any, in the Authorised Person to all registered clients of the
relevant branches of the Member at least thirty days before the change.
14. The parties
hereby agree that the Member may prescribe limits of amount in excess of which
the Authorised Person shall not undertake/commit transaction in securities
through the Member.
15. No change
shall be effected in the name, address, constitution or status of the
Authorised Person unless the same has been intimated to the Member at least 30
days in advance. The Authorised Person shall also intimate the Member
immediately after such changes.
16. In case of
any change mentioned in Clause 13 above, the Member undertakes to submit the
necessary documents to the Exchange and follow such procedures as may be
required by the Exchange to take on record, the changes.
17. The
Authorised Person agrees to immediately furnish information to the
Member/Exchange in writing, if any winding
up petition or insolvency petition has been filed or any winding up or
insolvency order or decree or award is passed against it/him or if any
litigation which may have material bearing on its/his capacity has been filed
against it / him.
18. No person
shall be appointed by the Authorised Person to operate his trade terminals as
provided by the Member, unless such person satisfies the criteria of NISM
certification or any other certification as prescribed by SEBI and/or the
Exchange.
19. The
Authorised Person agrees that neither he/it nor any of its partners/directors
shall act as authorised person of any other trading member of the Exchange.
20. The Authorised Person acknowledges that the Member and the Exchange shall be entitled to conduct periodic
inspection of branches assigned to Authorised Person and records of the
operations carried out by the Authorised Person.
21. The
Authorised Person agrees to receive its/his remuneration by way of fees,
charges, commission, salary or otherwise for its/his services only from the
Member and shall not charge or receive any amount from the clients.
22. The
parties shall treat as confidential all information obtained pursuant to this
agreement including information pertaining to clients of the Member and shall
not divulge such information to any person (except to their own employees and
then only to those employees who need to know the same) except as required
under law in force. The Parties shall also ensure that their employees are
aware of and comply with the provisions of this clause. The foregoing
obligations as to confidentiality shall survive any termination of this
agreement.
23. This
agreement shall forthwith stand terminated;
§
if the Member for any reason ceases to be a member of the
Exchange including by cessation of membership by reason of the Member's, death,
resignation, expulsion or having been declared a defaulter or surrender of
membership by the Member or if the registration certificate issued by SEBI is
cancelled;
§
upon the demise/insolvency of the Authorised Person or
cancellation or withdrawal of approval of the Authorised Person by the
Exchange.
§
if the Authorised Person at a subsequent date becomes
ineligible under clause 4 of the SEBI Circular or other Circulars issued by
SEBI, from time to time, or the Byelaws, Rules, Regulations and Circulars
issued by the Exchange, from time to time. .
24. This
agreement may be terminated by either party by giving at least one month
written notice to the other party at its respective address mentioned above.
However, such cancellation or termination shall not affect the rights and
obligations of the parties prior to termination.
25. Where this
agreement is terminated, the Member shall forthwith intimate the same to the
Exchange so that the Exchange may cancel the approval issued to Member relating
to appointment of Authorised Person and take such other action as it may deem
fit and necessary.
26. Upon
termination of this agreement, the Authorised Person shall forthwith cease its
activities as an Authorised Person of the Member and shall transfer all
details/documents in its/their custody/possession /control relating to clients
of the Member dealing through the Authorised Person to the Member.
27. If any
dispute arises between the Member and the Authorised Person, the same shall as
far as possible be settled with the help of the officials of the Exchange and
if no such settlement is possible the parties hereby agree to refer such
dispute to arbitration in accordance with the Rules, Bye-laws and Regulations
of the Exchange. The parties hereby agree that they shall cooperate with the
Exchange officials and provide all relevant documents/details and information
in their possession or control so as to expedite the settlement or adjudication
through arbitration process.
28. Any
dispute between a client and the Authorised Person shall be treated as dispute
between the Client and the Member and the Member shall take full responsibility
to resolve the same. Authorised person agrees to provide all necessary
assistance to the Member in this regard. Accordingly, the dispute shall be
subjected to Rules, Bye-laws and Regulations of the Exchange.
29. If at any time, any of the provision of this agreement is or becomes
invalid, illegal, unenforceable or in conflict with any of the applicable laws,
such provision shall be deemed to have been severed from this agreement and the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.
30. The
provisions of this agreement shall always be subject to the Byelaws, Rules,
Regulations and Circulars issued by the Exchange from time to time and the
Circulars, Guidelines and Regulations issued by SEBI from time to time.
31. Words and
expressions which are used in this Agreement, but which are not defined herein
shall, unless the context otherwise requires, have the same meaning as assigned
thereto in the Rules, Byelaws and Regulations of the Exchange and circulars
issued thereunder.
32. Neither party shall be liable for non-performance of any of its
obligations under this Agreement by reason of Force Majeure. For
the purposes of this Clause, "Force Majeure" means and includes wars,
insurrections, revolution, fires, floods, epidemic quarantine restrictions,
declared general strikes in relevant industries, act of God, act of the
Government of India and any concerned State Government and such other acts or
events beyond the control of the parties. The above is without prejudice to the
rights already accrued to the parties prior to the occurrence of events of
Force Majeure.
33. No
forbearance, delay or indulgence by either party in enforcing the provisions of
this agreement shall prejudice or restrict the rights of other nor shall any
waiver of a right operate as a waiver of any subsequent breach and no right,
power or remedy herein conferred upon or reserved is exclusive of any other
right, power or remedy available to the respective party and each such right,
power or remedy shall be cumulative.
IN WITNESS
WHEREOF, the parties hereto have set their hands and signatures on the day,
month and year first above written.
Signed
for and on behalf of the Member
Witness:
1.
2.
Signed
for and on behalf of the Authorised Person
Witness
1.
2.
Annexure -AAP – 10
APPLICATION FOR CANCELLATION OF APPOINTMENT
OF AUTHORIZED PERSON
(On the letter head of the Trading Member)
Membership Department
The Calcutta Stock Exchange Limited
7 Lyons Range,
Kolkata 700 001.
Dear Sir/Madam,
I/We
hereby request the Exchange for cancellation of appointment of following
Authorized Person(s) with the Exchange whose details are as under:
|
Sr No. |
Name of the Authorized Person |
Trade Name of the Authorized Person / |
Date of approval by Exchange |
Date of Cancellation |
Reason for cancellation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
I /We certify and
confirm the following:
7. *Certified true copy
of Board Resolution / Letter of Authority signed by all partners regarding
approval for cancellation of Authorized Person appointment is also enclosed
I / We undertake to honour all the liabilities /obligations arising from
the acts of omission or commission of the authorized person done by the
authorized person / employees of the authorized person till the cancellation of
appointment by the Exchange.
Please find
enclosed the following payments:-
|
Cheque / DD/ Pay order No |
Date of Cheque / DD/ Pay order
|
Drawn on – Name of the bank and branch |
Amount (Rs.) (including Service Tax @ 12.36%) |
|
|
|
|
|
|
|
|
|
|
Yours faithfully,
For
______________________ (name of the member)
(Signature of Sole
Proprietor/ Individual / Designated Partner/ Designated Director of Trading
Member)
For
______________________ (name of the member)
(Signature of Designated
Partner/ Designated Director of Trading Member)
Place:-
Date:-
Stamp of Trading Member
*
Applicable in case the Authorized Person is a Corporate/ LLP/ Partnership Firm.
ANNEXURE – AAP -11
LIST
OF DOCUMENTS TO BE SUBMITTED IN CASE OF CANCELLATION
OF
AUTHORIZED PERSON AND GENERAL INSTRUCTIONS
(Please
note separate checklist and documents have to be
submitted
per Authorized Person)
a) Application form
for Cancellation of Authorized Person in Equity / Derivatives segment on the
letter head of the trading member, as per format given in Annexure AP-10,
completely filled and signed and stamped by Sole
Proprietor/Individual/Designated Partner/Designated Director of the Trading
Member.
b) Applications must be accompanied by payment of Rs 1000/- per application
per authorized person plus Service Tax @12.36%.
c) Copy of request
received from Authorized Person for Cancellation to be executed on the letter
head of the Authorized Person and should be signed and stamped by
Sole Proprietor/Individual / Partner/Director of the Authorized Person. in case
the authorized person is not co-operating for the cancellation of appointment,
acknowledgment copy of notice issued to Authorized Person
d) Board
Resolution/Letter of Authority of the authorized person in case of Corporate /
LL P / Partnership Firm approving the cancellation of its appointment as
authorized person. The Board Resolution/Letter of Authority should be on
letterhead of the authorized person and has to be signed by any
one Director in case of corporate, to be signed by all partners in case of
Partnership Firm or LLP.