Settlement with BSE Broker or Sub-Broker
|March 6, 2013||Posted by vampseo under Bombay Stock Exchange, BSE SENSEX|
Ensure delivery of securities /payment of money to the broker immediately upon getting the Contract Note for sale / purchase but in any case, before the prescribed pay-in-day.
Member should pay the money or securities to the investor within 24 hours of the payout.
Open a demat account.
Opt for buying and selling shares in demat form.
For delivery of shares from demat account, give the Depository Participant (D P) ‘Delivery out’ instructions to transfer the same from the beneficiary account to the pool account of broker through whom shares and securities have been sold.
The following details to be given to the DP: details of the pool a/c of broker to which the shares are to be transferred, details of scrip, quantity etc. As per the requirement of depositories the ‘Delivery out’ Instruction should be given atleast 48 hours prior to the cut-off time for the prescribed securities pay-in.
For receiving shares in your demat account, give the Depository Participant (D P) ‘Delivery in’ instructions to accept shares in beneficiary account from the pool account of broker through whom shares have been purchased.
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If physical deliveries are received check the deliveries received as per Good/Bad delivery guidelines issued by SEBI.
Bad delivery cases should be sorted out through BSE mechanism immediately.
Ensure that all registration of physical shares for ownership by transfer should be executed by a valid, duly completed and stamped transfer deed.