What are the Consequences of KSE member’s suspension?

1 ANSWERS

1. Money Saving Expert
   

   A suspended member, during the terms of his suspension, will not exercise or enjoy any of the rights or privileges of Membership. (b) The suspension or expulsion of a member shall not affect the right of his creditors. (c) The Exchange shall as soon as possible notify together with cause of such suspension/expulsion to the Members of the Exchange and the public through placement on website any decision of suspending or expelling a Member of the Exchange. Further, in case of expulsion, Exchange shall publish such notice in at least two widely circulated newspapers. (d) A member shall not, without the special permission of the Board as specified in the 4 procedures, carry on business for or with an individual member or in case of Corporate Brokerage House, its Nominee Director/ Chief Executive and other directors (holding 20% or more of its shares) who is suspended or expelled from the Exchange. (e) When a member of the Exchange is expelled, his Card or right of Membership and all his rights and privileges as member of the Exchange including any right to the use of or any claim upon or any interest in any property or funds of the Exchange shall be forfeited to and become the property of the Exchange but any liability of any such members to the Exchange or to any member of the Exchange shall continue and remain unaffected by his expulsion

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