ARG COMPLIANCE MANUAL - Rathi Online

45. Following part of clause B in Schedule II was deleted by the SEBI (Stock Brokers & SubBrokers) (Amendment) Regulations, 2003, published in the Official Gazette of India dated23.09.2003“and make payment in respect of securities sold and arrange for prompt delivery of securitiespurchased by clients. “46. Sub-clause (2) to clause B in Schedule II was inserted by the SEBI (Stock Brokers & SubBrokers) (Amendment) Regulations, 2003, published in the Official Gazette of India dated23.09.2003.47. The words in sub-clause (6) of clause B “ and shall issue appropriate purchase/sale note” weredeleted by the SEBI (Stock Brokers & Sub Brokers) (Amendment) Regulations, 2003, published inthe Official Gazette of India dated 23.09.2003.48. Clause 7A in clause C of Schedule II was inserted by the SEBI (Investment Advice byIntermediaries) (Amendment) Regulations 2001, published in the Official Gazette of India dated29.05.2001.49. Following sub-clause (4) in clause C was substituted by the SEBI (Stock Brokers & Sub Brokers)(Amendment) Regulations, 2003, published in the Official Gazette of India dated 23.09.2003.“ (4) LEGAL AGREEMENT BETWEEN BROKERS : A sub-broker shall execute an agreement orcontract with his affiliating brokers which would clearly specify the rights and obligations of the subbrokerand the principal broker. “83