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FUNCTIONS OF OTCEI PDF

features of OTCEI 1. nationwide trading2. ringless trading3. compulsory investor registration4. transparent trading5. Please see the related links for an explanation of OTCEI. 3. Features of OTCEI Ringless and Screen-based Trading The OTCEI was the first stock exchange to introduce automated,screen-based trading in place.

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Members responsibility for partners, agents and employees. Decision of the OTC Committee final. Notice of penalty and suspension of business. Application for admission of securities to dealings on the Exchange shall be made to the Exchange in such form as the Exchange may from time to time prescribe.

The Pherwani Committee has identified the shortcomings of the existing stock exchange system as follows and recommended establishment of OTCEI which has tried to address the following issues: However, if the average daily turnover of the exchange exceeds the prescribed level of Rs.

OTC Committee may from time to time authorize the Managing Director or such other person s to carry out such acts, deeds and functions in accordance with such provisions as may be laid down in this regard for fulfilling the responsibilities and discharging the powers defined in clause 03 above. You have the focus, the point where the earthquake started and the epicentrre, the point above ground where the waves spread ou … t from.

What is the role of OTCEI

OTC Exchange will help spread the stock exchange operations geographically and integrate capital market investment into a forum. Withdrawal of Admission to Dealings on the Exchange in other cases. Funcrions oriented programming, unlike structural programming, gives importance to the object rather than the way a particular task is accomplished.

Earthquakes cause their damage with shockwaves. Notwithstanding anything contained hereinabove, dealings on the Exchange in one or more of the trading segments can be effected in the dematerialised mode.

If it connives at the private failure of a member or accepts less than a full and bonafide money payment in settlement of a debt due by a member, arising out of a transaction in securities.

Details of all trades effected shall be communicated to the Exchange within the time prescribed in the prescribed format. Which arises from any outstanding balance or any outstanding difference upon previous transactions which has not been claimed at the proper time and in the manner prescribed in these Bye-laws, Rules oc Regulations.

OTCEI: Concept and Advantages | India | Financial Management

A Member may pay its authorised signatory or any other employee or other person sharing brokerage as provided in a above, a share of brokerage not exceeding such percentage as may be prescribed, of brokerage charged to the investor introduced by him. There shall be no objection to an award of the Arbitration Committee or of the OTC Committee that the meeting at which a reference or appeal was inquired into or a reference fubctions appeal was heard was adjourned from time to time or that the inquiry was not completed or that the reference or appeal was not finally heard at one meeting.

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Brokerage in Cases of Charity. All Directors and functionaries shall disclose to the Governing Board, upon assuming office and during their tenure in office, whenever the following arises.

In the event of any default by a ottcei, the authorised signatory, employee or other person introducing the defaulting constituent shall be liable to the employing Member.

Dealers itcei adhere to the Rules, Bye-laws, Regulations and Code of Conduct of the Exchange and to such guidelines, directives, rulings issued by Exchange from time to time, as may be applicable.

A Member shall not directly or indirectly enter into any arrangement or adopt any procedure for the purpose of evading or assisting in the evasion of the margin requirements prescribed under these Rules, Bye-laws and Regulations. A Member shall appear and testify before and cause its partners, attorneys, agents, authorised signatories and employees to appear and testify before the OTC Committee or before other sub-committee s or an officer of the Exchange authorised in that behalf and shall produce before the OTC Committee or before other sub-committee s or an officer of the Exchange authorised in that behalf, such books, correspondence, documents, papers and records or any part thereof which may be in its possession and which may functionw deemed relevant or material to any matter under inquiry or investigation.

It is a graph which you can find on digital cameras and even in computer software. Cash equivalents would be as follows. If it neglects or fails or refuses otxei submit to the OTC Committee or to the Chief Executive within the time notified in that behalf special returns in such forms as the OTC Committee may from time to time prescribe together with such other information as the OTC Committee or the Managing Director may require whenever circumstances lf which in the opinion of the OTC Committee or of the Managing Director make it desirable that such special returns or ptcei should be furnished by any or all the Members.

How does otcei work?

The Exchange shall maintain a register wherein the brief particulars of the records destroyed shall be entered, alongwith with the certification regarding the date and mode of destruction.

Unless otherwise provided in these Bye-laws, all dealings carried out in respect of the securities shall be subject to the Bye-laws, Regulations and Rules of the Exchange. The system must support inheritanc … e. An acceptance, whether express or implied, of a transaction subject to arbitration shall constitute and shall itcei deemed to constitute an agreement between the Member and non-Member s concerned or Members inter se that all claims whether admitted or not differences and disputes of the nature referred to in sub-clause a of clause 01 in respect of all dealings, transactions and contracts, of a date prior or subsequent cunctions the date of the contract, shall be submitted to and decided by arbitration as provided in the Bye-laws and Rules of the Exchange and that in respect thereof any question whether such dealings, transactions and contracts have been entered into or not shall also be submitted to and decided by arbitration as funxtions in the Bye-laws and Rules of the Exchange.

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The suspension of a member shall have the following consequences namely: Notice shall be given to the member concerned and to the members in general, by a notice on the quotation system of the Exchange, of the expulsion or suspension or default or of the suspension of business by a member or any other penalty imposed on it or on its authorised officer, attorneys, agent, authorised signatories or other employees.

All unsettled claims, complaints, differences and disputes between Members inter se and Members and Non-Members, arising out of or in relation to any bargains, dealings, transactions or contracts, whether entered into or not, shall be subject to the provisions of the Arbitration and Conciliation Act, as provided under the Bye-laws and Regulations and shall be referred to the Arbitration Committee.

Advertisement may be issued individually or jointly with other Members. Fresh Reference on non-compliance with award when allowed. Newer Posts Older Posts Home. Extension of time for making an award. The time taken to make the award may not be extended beyond 3 times, by the Managing Director or Relevant Authority on an application by either of the parties or the arbitral tribunal, as the case may be. Forwarding of Share Certificate Any dispute, unsettled claim, difference or controversy arising out of or in connection with the business of any Member s of the Exchange or in relation to any bargains, dealings, transactions or contracts, whether entered into or not, shall be subject to the provisions of the Arbitration and Conciliation Act, and shall be referred for arbitration to the Arbitration Committee appointed by the Board of Directors.

Registering of Investor Complaints. The aspirants would also have to pass a computer -based written test. When a complaint has been lodged by a constituent with the Exchange that any Member has failed to implement his stock-broking transactions, the Exchange shall investigate the complaint and if it is satisfied that the complaint is justified it may suspend the Member for such period or periods or take such other disciplinary action as it deems fit.

The sponsor-member requires day quotes buy and sell for the 12 months from the date of commencement of trading. Provided that when a Member is not prepared to carry out such instructions or orders either wholly or in part, it shall immediately inform its constituents to that effect. The Default Committee shall call in and realise the security depositmargin money and securities deposited by the Defaulter and recover all monies, securities due and other assets due, payable or deliverable to the defaulter by any other member in respect of any transaction or dealing as per the list submitted by the defaulter in accordance with the Bye-laws, Rules and Regulations of the Exchange and such fines and securities shall vest in the Default Committee for the benefit and on account of the creditor Members.