Membership Application Trading Member (TM)

Transcription

1 Membership Application Trading Member (TM) National Spot Exchange Ltd. 102A, Landmark, Suren Road, Chakala, Andheri (E), Mumbai Tel. No.: , Fax No.: Website:

2 National Spot Exchange Ltd. 102A Landmark, Suren Road, Chakala, Andheri (East), Mumbai India. Tel. No.: , Fax No.: membership@nationalspotexchange.com, Website: Membership Application Please read the terms and conditions and guidelines carefully before filling-up the application form for Trading Membership (TM) of National Spot Exchange Ltd. Please put seal & signature on each page of the Application Form. National Spot Exchange or The Exchange or NSEL has been used interchangeably unless otherwise specified. Please attach all relevant documents along with this application. Please use additional sheets to furnish information, wherever necessary. Terms and conditions for seeking Professional Clearing Membership (PCM) Terms and conditions for seeking Trading Membership (TM) of NSEL 1. A Trading Member means a person having been admitted by the Board as such, who shall have rights to trade on his own account as well as on account of his clients, but shall have no right to clear and settle such trades himself. All such Trading Members must be affiliated with any one of the Institutional Trading-cum-Clearing Member (ITCM) or Professional Clearing Member (PCM) having clearing rights on the Exchange. 2. The applicant for TM shall be an Indian National. 3. An applicant shall submit the application form (Part-A) along with an amount as specified in clause 10 of the application form. This amount has to be remitted to our Mumbai office by way of demand draft favouring National Spot Exchange Ltd. payable at Mumbai along with the following document, duly attested by the applicant, which are a part of the membership criteria a) Bio-data of the applicant/partners/directors/ authorized signatories containing self declaration of his/their present business activities, b) Proof of educational qualifications of the authorized signatories, c) Proof of experience of the authorized signatories. d) Proof of office address, e) Proof of age & address of the applicant or the authorized signatories in case of Registered Partnership Firm/Corporate (e.g. Passport, driving license, election ID card etc.) f) Net worth Certificate not older than six months along with computation statement issued by a Chartered Accountant, Net worth criteria Rs.5.00 lakh. g) Copy of PAN Card of the applicant Company. h) In case of Partnership Firm certified copies of Firm Registration Certificate, Registered Partnership Agreement, undertaking from all Partners authorizing the Managing Partner, sharing pattern and details of Dominant Promoter Group (DPG) i) In case of corporate, Board Resolution seeking Trading Membership of the Exchange and for appointment of authorized signatories and authorized persons, certified copy of memorandum of Association & Articles of Association, shareholding pattern and details of Dominant Promoter Group (DPG) j) Undertaking for not being debarred/ suspended/ default k) All applicant shall come with a recommendation letter of the ITCM or PCM for registration of their applicants as Trading Members of NSEL. l) Any other document, as may be specified by the Exchange

3 4. The applicant shall be interviewed by the Exchange and in case of corporate, the authorized signatories shall attend the interview. 5. On confirmation by the Exchange, the applicant shall remit the balance amount, if any, within 15 days form the date of intimation about the decision of the Exchange, appointing the said person as a Member of the Exchange. The payment shall be made by way of demand draft favouring National Spot Exchange Ltd. payable at Mumbai. 6. The applicant shall submit the following documents (Part-B) with NSEL after the Exchange has intimated the applicant about his selection. These documents would be required before commencement of the operations: a) Trading Membership Undertaking, b) VSAT Undertaking, c) No-objection Certificate for installation of VSAT Dish Antenna d) Questionnaire for VSAT, e) CST/LST declaration, f) Undertaking for Internet based Trading, g) Bank reference letter from the Branch Manager of the Present Banker, h) Latest Annual Report / Auditors Report, and i) Any other document, as may be specified by the Exchange 7. The Exchange reserves the right to accept or reject any application or amend the terms and conditions without assigning any reason whatsoever. 8. In case the amount is not paid as per schedule provided by the Exchange, then the Exchange reserves the right to reject / terminate the membership and forfeit the money paid to NSEL. 9. Application once submitted cannot be withdrawn as the application are being processed on first-cum- first serve basis. 10. Fee and deposit structure: a) Admission fee Rs.5.00 Lakh (Non-refundable) b) Interest free Security Deposit: PCM/ITCM shall suitably collect deposits from TM c) Annual Subscription Fee Rs. 10,000/- d) Processing Fee Rs. 5,000/- 11. Membership is transferable after three years from the date of admission. 12. Connectivity: a) Applicant Members shall have to take connectivity through VSAT and/ or leased line. b) Members of MCX can use the existing network connectivity subject to terms and conditions to be notified separately.

4 National Spot Exchange Ltd. 102A Landmark, Suren Road, Chakala, Andheri (East), Mumbai India. Tel. No.: , Fax No.: membership@nationalspotexchange.com Website: APPLICATION FOR TRADING MEMBERSHIP (PART A) The Managing Director, National Spot Exchange Ltd. 102A Landmark, Suren Road, Chakala, Andheri (East), Mumbai India. Dear Sir, I/We am/are desirous of becoming a Trading Member (TM) of National Spot Exchange Ltd. (NSEL) I/we hereby apply for said membership and, undertake, to confirm to and to abide by the Memorandum of Association & Articles of Association and Rules, Bye-laws, Business Rules, Circulars, Notifications and Office Orders, issued by the exchange, from time to time. I/We shall be liable for all contracts and transactions in the Exchange entered into by us or by our authorized representatives and I/We comply with all requirements of the Exchange relating to settlement thereof. I/We shall also abide by all decisions of the Exchange with respect to the operations of the Exchange and would perform accordingly in meeting my/our financial, regulatory and operational responsibility as decided by the Exchange from time to time. I/We agree to be responsible for all non-compliance and the Exchange shall reserve all rights of disciplinary action for any non-compliance by me/us. Pursuant to above, I/we submit below the details of my/our candidature: 1 Name of the Applicant (full) : 2 Office Address : City: State : Pin code: Telephone No. (O) : Telephone No. (R) : Fax No. (With STD Code): Name Of the Contact Person(s) Mobile No. : 3 Name of the cities in which you are operating or propose to operate Signature 1: Rubber Stamp: Signature 2: Rubber Stamp:

5 APPLICATION FOR TRADING MEMBERSHIP 4 Nationality 5 Constitution Individual/HUF/Registered Partnership Firm/Private Limited Co./Public Limited Company/Others 6 Date of Incorporation / registration 7 Details of Proprietor/Partner/Chief Executive/ Director Name : Designation: Tel. No.: Mobile No: 8 Income tax Permanent Account No. 9 Details of exiting banks Name and branch address : Account No. : Account is operational since Telephone No.: 10 Present Business / Occupation 11 Present Networth Rs lakh as on.. 12 a) Are you a clearing member of any other commodity /Stock Exchange (provide details) b) Are you a sub-broker of any NSEL Member? If yes, Provide No Objection Certificate from the Member Signature 1: Rubber Stamp: Signature 2: Rubber Stamp:

6 APPLICATION FOR TRADING MEMBERSHIP 13 Please give the following details of the applicant a) Have you been declared/ rendered incompetent to enter into contract under any law in force in India? b) Have you ever been declared a defaulter by any Association or Exchange recognized by the Government under any law c) Whether any court case is pending against applicant / directors? d) Have you ever been pronounced guilty of a criminal offence involving moral turpitude? e) Has any disciplinary action been taken by any commodity / stock exchange against you or any of the promoter / directors / shareholders / employees of your organisation? If so. Please provide details in a separate sheet. f) Have you ever been adjudged bankrupt or have been proved to be insolvent at any time? g) Have you ever been involved in litigations, suits, or proceedings or have been involved in any financial liability of contingent or unascertained nature? h) Have you ever been at any time convicted of an offence involving fraud or dishonesty or financial irregularities? i) Have you ever been associated with or a trading member of or subscriber to or a shareholder or debenture holder of any other commodity/stock exchange? j) Have you ever been denied/rejected membership of any commodity/stock exchange or commercial organization? If yes, when? k) Have you committed any act which may render you liable to be wound-up? l) Have you ever been suspended/expelled/declared a defaulter on any commodity/stock exchange or have been debarred from trading in commodities/securities by any Regulatory Authorities like APMC, FMC, RBI SEBI, etc.? m) Have you ever had a provisional liquidator or receiver or official liquidator appointed by a competent court against you? (In case answers to any of the above questions is yes, then please provide relevant details 14 Name of your authorised representative(s), who shall be responsible to the Exchange to ensure compliance of different provisions of law and procedures Signature 1: Rubber Stamp: Signature 2: Rubber Stamp:

7 APPLICATION FOR TRADING MEMBERSHIP I/We undertake that any misstatement of misrepresentation of suppression of facts in connection with this application for Trading Membership or breach of any undertaking or condition of admission as TM of NSEL may entail rejection of application or expulsion of our membership. I/We hereby, state that the above-mentioned particulars are true, correct and complete to the best of my/our knowledge and information. I/We state that no relevant material fact has been suppressed while applying for the Trading Membership of NSEL. I/We shall appear for interview, whenever called by the Exchange for my/our seeking the Trading Membership of the Exchange. I/We shall pay the required fee, charges and deposit to the Exchange and submit the necessary documents as stated in the terms and conditions and any other documents as required by the Exchange for my/our seeking the Trading Member of the Exchange. Date: Place: Authorised Signatories: Signature: (Names of the signatories) (Designation of the signatories) (Trade Name of the organisation) Photographs Affix Photograph and sign across the Photograph Affix Photograph and sign across the Photograph

8 Guidelines for filling-up the application form for Trading Membership of NATIONAL SPOT EXCHANGE LTD. 1. Address: Write address of registered office and other dealing offices. 2. Branch office: Enclose a separate sheet for more than one branch and / or contact person from trading would be suggested. 3. Form of organization: Tick mark one and / or specify. 4. Networth: Write the amount as certified by a Chartered Accountant 5. Signature and photo of TM Two authorised signatories as authorised by the Board of Directors, as shall sign the application, paste his recent passport size photo and sign across the photo: Please visit National Spot Exchange Ltd. website ( Rules, Bye-Laws and Business Rules (Regulations) or other information. Please write to/call National Spot Exchange at the following address / telephone no. for any further clarification: Membership Department National Spot Exchange Ltd. 102A Landmark, Suren Road, Chakala, Andheri (E), Mumbai , India Phone: Fax: membership@nationalspotexchange.com Website:

9 Annexure-A BIO DATA Name in full with expansion of initials (First Name-Middle Name-Surname) Fathers /Husbands name in full (with expansion of initials) Date of birth (DD-MM-YYYY) Address: Office : Residence : Tel. No (with STD Code) : Office Residence Mobile No. Fax No. Pan No. Qualification Member of Commodity/Stock Exchange (specify name and period) Work Experience (in detail) Signature : (Bio data has to be filled by each person, who has signed the Application form). Annexure-B

10 (On Company Letterhead) True extracts of the minutes of the meeting of the board of directors of the company...held on date... at the registered office... Resolved that the board authorizes... Ltd, to become a Trading Member (TM) of National Spot Exchange Limited (NSEL) Further the board appoints Mr./Ms.....and Mr./Ms... to be the authorized representative(s) of the company and they are hereby authorized to act as designated director(s) on behalf of the company for all matters related to National Spot Exchange Limited (NSEL). Further resolved that Mr./Ms and /or Mr./Ms......of the company are also authorized to sign jointly or severally all documents / agreements on behalf of the company for acquiring the membership and operations of National Spot Exchange Limited (NSEL). FOR AND ON BEHALF OF THE BOARD OF DIRECTORS CHAIRMAN COMPANY SEAL DATE: PLACE: Specimen Signatures of Authorized Signatories Name of Authorized Signatory Specimen Signature Signatures Attested Chairman

11 Annexure-C SHAREHOLDING PATTERN (FOR CORPORATES) (ON COMPANY S LETTER HEAD) Share Holding Pattern of (Name of Member) as on (Date) Paid up capital: Rs. (In figures) Paid up capital: Rs. (In words) Face value of each equity share (or any other instrument): Rs. (In figures) Rs. (In words) Sr. No. Name Number of shares held Total Amount paid-up (Rs.) % age of total NOTE: # Give similar details thereof separately only in case of indirect support taken through the body corporate # Give similar details thereof separately in case of holding Persons holding 5% or more of the paid up capital should be shown separately and not clubbed in Others. Date: Signature of designated director with name and rubber stamp Place: Signature of designated director with name and rubber stamp AUDITOR S CERTIFICATE This is to certify that the Shareholding in as given above, based on my/ our scrutiny of the books of accounts, records and documents is true and correct to the best of my/our knowledge and as per information provided to my/our satisfaction. Date: Place: For (Name of Accounting Firm) Name of the Partner/Proprietor Chartered Accountant Membership Number Rubber stamp of firm

12 (Format of Undertaking) (on the letter head of the Member) Annexure-D To, The Membership Department, National Spot Exchange Ltd., 102 A, Landmark Suren Road, Chakala, Andheri (E), MUMBAI Dear Sir, I/We hereby confirm/undertake that (Trade Name of the Trading Member) and Mr./Ms... and Mr./Ms (Name of the Designated Director(s)/Managing Partner(s)/Proprietor/Karta) a. are not debarred/suspended/declared defaulters by APMC/SEBI/FMC/RBI/any recognized Stock Exchange/any recognized Commodity Exchange. b. are not connected with any of the defaulting/debarred/suspended member of any Stock Exchange/Commodity Exchange. c. there are no complaints/disciplinary action against us at APMC/SEBI/FMC/RBI/any recognized Stock Exchange/any recognized Commodity Exchange. d. no investigation/enquiry by APMC/SEBI/FMC/RBI/any recognized Stock Exchange/any recognized Commodity Exchange is pending against us or undertaken against us. In case of any action/complaints/investigation/enquiry by any APMC/Statutory Agency/Regulatory Agency/Stock Exchange/Commodity Exchange in future, I/We undertake to intimate the Exchange immediately. I/We declare that the information given above is true. Yours faithfully For (Name of the Trading Member) 1. Designated Director/Managing Partner/Proprietor/Karta Name: 2. Designated Director/Managing Partner/Proprietor/Karta Name: Rubber Stamp Date: Place: