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Amendment in Regulations |
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Circular No. : NCDEX/LEGAL-010/2009/295 Date : October 23, 2009
Members are hereby informed that the provisions of the Regulations of the Exchange are amended as per the details given below.
1. The existing para of Regulation 5.1 which reads as
“The Trading Member cannot utilize the funds and commodities of one Constituent for and on behalf of another Constituent except on specific authorization of the Constituent whose funds or commodities are utilized” shall be replaced with the following para: “The Trading Member cannot utilize the funds and commodities of one Constituent for and on behalf of another Constituent” The other paras of Regulation 5.1 shall remain as they are.
2. The existing para (h) of Regulation 6.6 which reads as
“No Trading Member shall exercise any discretionary power in a client’s account unless such client has given prior written authorization to a stated individual or individuals and the account has been accepted by the Trading Member, as evidenced in writing by the Trading member” Shall be replaced with the following para:
“(h) No Trading Member shall exercise discretionary power in client’s account except as provided in the Rules, Bye-laws and Regulations of the Exchange” The above amendments shall come into force with immediate effect from the date of this circular. All are requested to take note of the above.
For and on behalf of
National Commodity & Derivatives Exchange Limited
Ravinder Sachdev
Head- Legal
For any further information / clarifications, please contact –
1. Customer Service Group – Phone No. (022) 6640 6609-12
2. Customer Service Group by E-mail to: askus@ncdex.com
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