Skip to content

NISM Certifications · NISM-Series-VI: Depository Operations · Functions of Depository Participant - Account Operations

A BO wants to give a delivery instruction to transfer shares from his demat account to another BO's account for an off-market sale. Which document does the DP normally accept from the BO to execute this?

The DP executes a transfer on a duly filled and signed Delivery Instruction Slip issued to the BO. The DIS is the authorised written instruction for debiting the account; a contract note, PAN copy or unrecorded phone request cannot serve as the instruction.

  1. AA duly filled and signed Delivery Instruction Slip (DIS) from the BOCorrect
  2. BA copy of the contract note only
  3. CA telephonic request without any written record
  4. DThe BO's PAN card copy alone

Explanation

Transfers of securities from a BO account are executed on the basis of a properly signed Delivery Instruction Slip issued by the DP to the BO. A contract note or PAN copy is not an instruction. Telephonic requests are not acceptable unless a specific facility is authorised and documented.

Did you get it right without looking?

One question tells you little. A timed set on Functions of Depository Participant - Account Operations shows your real accuracy, how long you take and where you lose marks.

Practise Functions of Depository Participant - Account OperationsFree diagnostic mock

More Functions of Depository Participant - Account Operations questions