2020
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Markets regulator SEBI has extended the date for implementing norms pertaining to power of attorney given by clients to trading members till which date from June 1, 2020?
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August 30, 2020
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July 1, 2020
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August 1, 2020
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July 30, 2020
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Explanation:
Detailed explanation-1: -The Securities and Exchange Board of India (SEBI) issued a circular dated April 4, 2022, stating that the Power of Attorney (PoA) usually granted to stockbrokers and depositories will no longer be allowed from July 1, 2022. The PoA will, instead, be replaced by a separate Demat, Debit, and Pledge Instruction (DDPI).
Detailed explanation-2: -A power of attorney (PoA) is a document that gives another person the legal authority to act on your behalf as per the terms mentioned in the document. In the case of a demat account, the PoA gives the online broker the legal authority to take certain decisions on your account.
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