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SEBI (Stock Brokers & Sub-brokers) (Amendment) Regulations 2018

SEBI Notification No. SEBI/LAD-NRO/GN/2018/03 dated the 13th of March, 2018, reads as follows.─

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992, namely,–

1. These regulations shall be called the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2018.

2. They shall come into force with retrospective effect from June 13, 2017.

3. In the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992,–

(I) in Schedule V, in Part B, in clause 3, in sub-clause (1), in the Table, in the row dealing with Commodity derivatives, in the column relating to “Remarks”,-

i. the existing explanation shall be numbered as “(A)”, and

ii. the following shall be inserted after (A), namely,-
“(B) In case of options contracts, ‘turnover’ shall be computed on the basis of premium traded for the option contracts and in case where the option is exercised or assigned, it shall be additionally computed on the basis of notional value of option contracts exercised or assigned.”




Note:
1. Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992, the Principal Regulations, was published in the Gazette of India on October 23, 1992 vide S.O. No. 780 (E).
2. The Principal Regulations were subsequently amended several times.

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