FAQ

ELIGIBILITY CRITERIA & CONDITIONS OF APPOINTMENT

Particulars Description
Type Of ConstitutionIndividual, Partnership Firm, LLP or Body Corporate
Eligibility Criteria for Individuals

1. Should be a citizen of India.

2. Should not be less than 18 years of age.

3. Should not have been convicted of any offence involving fraud and dishonesty.

4. Should have good reputation and character.

5. Should have passed at least 10th standard or equivalent examination from an institution recognized by the Government.

6. The authorised Person should also have the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge the activities on behalf of the Trading Member.

Eligibility Criteria for a Partnership
Firm, LLP or Body Corporate

1. All the partners and directors, as the case may be, must comply with the eligibility criteria for individuals given above.

2. The Object Clause of the Partnership Deed and the Memorandum of Association must contain a clause permitting the person to deal in securities business.

3. The authorised Person should also have the necessary infrastructure like adequate office space, equipment and manpower to effectively discharge the activities on behalf of the Trading Member

PROCEDURES OF APPOINTMENT

The Person/Body desirous to become Authorised Persons are advised to note that approval of the Exchange is required .

The copies of documents (duly certified) as per the checklist should be presented along with the application physically .

List of Documents :

The following is the list of documents required

  • Agreement between Trading member and applicant. (All pages should be signed by Proprietor/Partner/ Director of Trading Member and Applicant/proprietor /all the Partners/directors )
  • PAN Card, Date of Birth Proof, Residential and Office Address Proof, Education Qualification Proof of the individual applicant/all partners/all directors. (In case of any name change notarized and duly attested Affidavit should be provided.)
  • Annexure for Partner’s/Director’s Details and Shareholding Details duly certified by CA/CS.
  • In case of Partnership/LLP Firm’s application, Partnership/LLP Deed and Registrar of Firms (ROF) Certificate.
  • In case of a body corporate, Memorandum of Association (MOA) and Certificate of Incorporation.

Processing Fees

1. For AP Registration – Rs. 2000/- per segment (plus service Tax) in NSE

2. For AP Registration- – Rs. 1000/- per segment (plus service Tax) in MCX

3- For AP Cancellation – Rs. 1000/- per segment (plus service Tax) in NSE

WITHDRAWAL/CANCELLATION OF APPOINTMENT

Appointment of an Authorised Person may be withdrawn by the Exchange:

1.On receipt of a request to that effect from the Stock Broker concerned or the Authorised Person, subject to compliance with the requirements prescribed by the Exchange, or

2.On being satisfied that the continuation of Authorised Person is detrimental to the interest of investors or securities market or the Authorised Person at a subsequent date becomes ineligible under any of the clauses under the eligibility criteria

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