Central Depository Bangladesh Limited (CDBL)
Depository Account (BO Account) Opened with CDBL Participant
Terms & Conditions Bye Laws 7.3.3 (c)
- I/we agree to be bound by The Depositories Act, 1999, Depositories Regulations, 2000,
The Depository (User) Regulations 2003, and abide by the Bye Lawa and Operation Instructions issued from tiom to time by CDBL.
- CDBL shall allocate a unique identification number to me/us (Account Holder BO ID) for the CDBL Participant to maintain a separate Account for me/us, unless the I/we instructs the CDBL Participant to keep the securities in an Omnibus Account of the CDBL Participant. The CDBL Participant shall however ensure that my/our securities shall not be mixed with the CDBL Participant's own securities.
- I/we agree to pay such fees, charges and deposits to the CDBL participant, as may be mutually agreed upon, for the purpose of opening and maintaining my/our account, for carring out the instructions and for rendering such other services as are incidental or consequential to my/our holding securities in and transacting through the said depository account with the CDBL Participant.
- I/we shall be responsible for:
- The veracity of all statements and particulars set out in the account opening form, supporting or accompanying decuments;
- The authenticity and genuineness of all certificates and/or documents submitted to the CDBL Participant along with or in support of the account opening form or subsequently for dematerialization;
- Title to the securities submitted to the CDBL Participant from time to time for dematerialization;
- Ensuring at all times that the securities to the credit of my/our account are sufficient to meet the instructions issued to the CDBL Participant for effecting any transaction / transfer;
- Informing the CDBL Participant at the earliest of any charges in my/our account particulars such as address bank details, status, authorizations, mandates, nomination, signature, etc.;
- Furnishing accurates indentification details whilst subscribing to any issue of securities.
- I/we shall notify the CDBL Participant of any change in the particulars set out in the application form submitted to the CDBL Participant at the time of opening the account or furnished to the CDBL Participant from time to time at the earliest. The CDBL Participant shall no be liable or responsible for any loss that may be caused to me/us by reason of my/our failure to intimate such change to the CDBL Participant at the earliest.
- Where I/we have executed a BO Account Nomination Form
- In the event of my/our death, the nominee shall receive/draw the securities held in my/our account
- In the Event, the nominee so authorized remains a minor at the time of my/our death, the legal guardian is authorized to receive/draw the securities held my/our account.
- The nominee so authorized, shall be entitled to all my/our account to the exclusion of all other persons i.e., my/our heirs, executors and administrators and all other persons claiming through orr under me/us and delivery of securities to the nominee in pursuance of this authority shall be binding on all other persons.
- And I/we may at any time call upon the CDBL Paricipant to close my/our account with the CDBL Participant provided no instructions remain pending or unexecuted and no fees or charges remain payable by me/our to the CDBL Participant. In such event I/we may close my/our account by executing thee Account Closing Form if no balances are standing to my/our credit in the account. In case any balances of securitiies exist in the account the account may be closed by me/us in one of the following ways:
- By rematerialization of all existing balances in my/our account:
- By transfer of all existing balances in my/our account to me or more of my/our other account(s) held with any other CDBL Participant(s);
- By rematerialization of a part of the existing balances in my/our account and by transferring the rest to one or more of my/our other account(s) with any other CDBL Participant(s);
- CDBL Participant covenants that it shall
- Act only on the instructions or mandate of the Account Holder or that of such person(s) may have been duly authorizedby the Account Holder in that behalf.
- Not affect any debit or credit to and from the account of the Account Holder without appropriate instructions from the Account Holder.
- Maintain adequate audit trail of the execution of the instuctions of the Account Holder.
- Not honor or act upon any instructions for effecting any dedit to the account ot the Account Holder in respect of any securities unless:
- Such instructions are issued by the Account Holder under his signature or that of his/its constituted attorney duly authorized in that behalf;
- The CDBL Participant is satisfied that the signature of the Account Holder under which instructions are issued matches with the specimen of the Account Holder or his / its constituted attorney available on the records of the CDBL Participant;
- The balance of clear securities available in the Account Holders account are sufficient to honour the Account Holders instructions.
- Furnish to the Account Holder a statement of account at the end of every month if there has been even a single entry or transaction during that month, and in any event ince at the end of each financial year. The CDBL Participant shall furnish such statements at such shorter periods as may be required by the Account Holder on payment of such charges by the Account Holder as may be specified by the CDBL Participant. The Account Holder shall scrutinize every statement of account received from the CDBL Participant for the accuracy and veracity thereof and shall promptly bring to the notice of the CDBL Participant andy mistakes, inaccuracies or discrepanies in such statements.
- Promptly attend to all gievances / complaints of the Account Holder and shall resolve all! such grievances / complaints as it relate to matters exclusively within the domain of the CDBL Participant within one month of same being brought to the notice of the CDBL Particioant and shall forthwith forward to and follow up with CDBL all other grienances / complaints of the Account Holder on the same being brought to the notice of the CDBL Participant and shall endeavour to resolve the same at the earliest.
- The CDBL Participant shall be entitled to terminate the account relationship in the event of the Account Holder.
- Failing to pay the fees or charges as may be mutually agreed upon within a period of one month from the date of demand made in that behalf;
- Submitting for dematerialization any certificates or othe documents of title which are forged, fabricated, counterfeit or stolen or have been obtained by forgery o the transfer whereof is restrained or prohibited by any direction, order or decree of any cout or the Securities and Exchange Commission;
- Commits or participants in any fraud or other act of moral turpitude in his / its dealings with the CDBL Participant;
- Otherwise misconducts himself in any manner.
- Declaration and Signatuer
I/we hereby acknowledge that I/we have read and understoon the aforesaid terms and conditions for operating Depositoty Account (BO Account) with CDBL Participant and agree to comply with them.
BROKER" Means K-Securities & Consultants Limited
Buyer “Mean the person or persons or company who intends to buy securities for him her/them through the BROKER.
"SELLER" mean the person or person or company who intends to sell his/her/thewir securities though the broker. .
"Securities Account" mean the account opened by the seller/buyer with the - Broker on which transactions carried out by the Broker on hehalf of the Seller/Buyer at the Stock Exchange are setted/clearded with the Stock Exchange.
"CDBL" means Central Depository Bangladesh Limited incorporated on 20th August 2000 in Bangladesh Under Central Depository Act.
The Seller shall deliver to the Broker valid and negotiable document i.e. transfer/s documents duly completed and signed by the Seller together with relative securities certificate with valid title, prior to placing sale order.
If for any reason whatsoever securities documents delivered by Seller turns out to be forged, invalid, worn out, torn or defaced, the defaculting Seller shall be liable to his Broker for any loss or damage sustained or incurred. The defaulting Seller shall be liable to replace such secutiries along with all benefits attributable to such securities within two days of reporting in writing to the Seller by the Broker. If for any reason the defaulting Seller fails to replace such securities along with all benefits attributable to such securities within two days of reporting in writing to the seller by the Broker, the Broker shall have the absolute discretion, to square-up the transaction commencing from the market day after the stipulated period (as above), at the Sellers risk and the seller shall be liable to the Broker for any loss or damage sustained or incurred.
Payment of Seller
The Broker shall make payment to seller on the settlement day, subject to the overall cash balance of the Seller's Securities Account", and may retain the anticipated charges.
The Buyer shall pay to Broker total value of the Purchase order in the Buyers Securities Account" prior to placing a Purchase order.
Payment of Buyer
The Buyer shall pay to Broker on or before the settlement day balance amount (if any, including charges of all securities purchased by him during the period of dealing for that settlement. If the Buyer defaults for whatever reason, he shall be liable to his Broker for all loss or damage sustained or incurred. In addition, to adjust the outstanding amount, the buying BROKER shall have the absolute disserting, to resell commencing from the market day after the day of settlement, the securities at the Buyer's risk and the Buyer shall be liable to the buying Broker for any loss or damage sustained or incurred.
Settlement through CDBL
If the CDBL is involved in the settlement porcess, client should follow the under mentioned rules: client must maintain a Beneficiary Owner account with the BROKER.
Client will pay the charges for CDBL, if necessary to transfer the shares from client B.0 account to broker clearing account and clearing account to B.0 account.
Broker reserves the absolute right to deduct the charges at source where applicable related to client's CDBL as given by the client.
Client will be liable for any losses or damages occurred due to wrong or incorrect information related to CDBL as given by the client.
All transactions shall be subject to the rules and regulations of the Dhaka Stock Exchage Ltd. and other prevailing laws and regulationjs of Bangladesh and in particular the authority herein after granted by the client to the BROKER.
Authority to the broker
Broker reserves the absolute right for sale/buy/make adjustment/transfer of any Securities at Client's risk in order to set off all losses, damages and debit amount /shares/securities of the "Client Account"
Client shall be bound to furnish such other particulars, documents and/or information that may reasonably be required from time to time.
Broker shall have the right to change/modify the terms and conditions when may deem necessary without any notice to the client.
We hereby accept the above terms and conditions and we declare that the information given is true and correct.