One Person Companies can act as broker on BSE

February 22, 2016 12:08

The Bombay Stock Exchange today said 'one person companies' (OPC) can act as a stock-broker provided the entity has at least two directors.

However, such broker will not be permitted to trade in his proprietary account.

"One Person Company, as permitted under the Companies Act, 2013, is eligible to be registered as a stock broker, provided it satisfies the condition of minimum two directors, as stipulated under... the Securities Contract (Regulation) Rules, 1957," the BSE said in a circular.

Further, OPCs can register as sub-brokers too.

Last week, NSE also approved OPCs to act as stock broker on similar conditions.

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