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Members of the Exchange are hereby informed that amendments have been carried out in the Regulations of Capital Market Segment and Futures and Options Segment of the Exchange pursuant to SEBI Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2018/113 dated July 12, 2018 as follows:
Capital Market Segment Regulations
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Sr. No.
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Old Regulation
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Amended Regulation
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1
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Regulation 4.5.15 (b)
A member shall make or receive all payments to/from his Constituents only by account payee crossed cheques/ Demand Drafts or by way of direct credit into the respective bank accounts through the Electronic Fund Transfer Facility or any other mode allowed by the Reserve Bank of India. Provided that in exceptional circumstances, the member may receive the amount in cash, to the extent permissible under the provisions of Income Act or Rules or circulars or directives issued thereunder, as may be in force time to time.
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Regulation 4.5.15 (b)
A member shall make or receive all payments to/from his Constituents only in the manner prescribed by the SEBI/the Exchange from time to time
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Futures and Options Segment Regulations
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1
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Regulation 4.5.17 (b)
The Trading Member shall make or receive all payments to/from the Constituents only by account payee crossed cheques/ Demand Drafts or by way of direct credit into the respective bank account through the Electronic Fund Transfer Facility or any other mode allowed by the Reserve Bank of India. Provided that in exceptional circumstances, the Trading Member may receive the amount in cash, to the extent permissible under the provisions of Income Tax or Rules or circulars or derivatives issued thereunder, as may be in force from time to time.
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Regulation 4.5.17 (b)
The Trading Member shall make or receive all payments to/from the Constituents only in the manner prescribed by the SEBI/the Exchange from time to time.
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Members are requested to take note of the above amendments in the Regulations of Capital Market Segment and Futures and Options Segment of the Exchange.
The amended Regulations are available under the caption “Rules, Bye-laws and Regulations of the Exchange” at the following link:
http://www.bseindia.com/members/downloads.aspx?expandable=9
For and on behalf of BSE Ltd.
Shailesh Jain Melinda Colaco
Deputy General Manager Associate Manager
November 28, 2018
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