(1) Customers who wish to conduct secondary market transactions through bond brokers listed in accordance with Rule 12 shall order the broker to conduct secondary market transactions in the format prescribed by the Securities Board.
(2) In the order given in accordance with sub-rule (1), the customer shall specify the name, type, number, amount, price and the period during which such order is valid.
(3) When disclosing the price according to sub-rule (2), the customer may disclose the price of the bond as follows:-
(a) Fixed price,
(b) minimum or maximum price, or
(c) Price that can be set by the broker after looking at the condition of the securities market.
(4) The order given by the customer according to sub-rule (2) shall be valid for the period specified by him and if the period is not specified, it shall be valid for three days from the date of the order.
(5) When giving an order according to sub-rule (1), the client shall submit the bond certificate of the value of the bond to the broker.
(6) According to sub-rule (5), after receiving the certificate of the bond from the client, the broker shall give the copy thereof to the client.
(7) When dealing in the secondary market of bonds, the broker shall conduct the transaction on the basis of the time priority mentioned in the records kept in accordance with sub-rule (1) of Rule 21.
(8) When dealing in bonds, the broker shall set the price on the basis of the quoted price of one hundred rupees.
(9) After the broker has given his verbal acceptance that he has taken or given orally during the secondary market transaction of the bond, the buyer broker and the seller broker must sign the form in the format prescribed by the Securities Board and give it to each other and submit one copy to the securities market immediately.
(10) In accordance with sub-rule (9), after signing the approval to deal in the secondary market of bonds, the broker shall not be allowed to refuse to deal in the secondary market of such bonds.
(11) After completing the bond transaction according to sub-rule (9), the broker shall inform the customer by filling the form in the format prescribed by the Securities Board. customerIf the bond is purchased, the broker must also give the purchase receipt to the customer in the format prescribed by the Securities Board.
(12) The purchase under sub-rule (11) shall be negotiable as a debenture.
(13) Regardless of what is written in sub-rule (12), the transaction can be done only after registering the purchase price as per sub-rule (11) with the relevant broker and securities market.
(14) In the absence of a customer's order, the broker may carry out secondary market transactions in his own bonds, not exceeding the limit set by the Securities Board.