Freeze and Suspension

Freeze and Suspension

Every Account Holder shall have an option to freeze or suspend his/her Account with the CDBL. The CDBL Participant shall then suspend the Account of an Account Holder maintained with it on written instructions received by the CDBL Participant from the Account Holder.

Alternately the Account Holder may wish to permanently close of their account, in which case they must fill in an Account Closure Request Form.

An Account Holder shall have an option to suspend the Account either for debit or credit or both.

The CDBL Participant shall suspend the Account of an Account Holder on written instructions received by it in this regard from CDBL pursuant to the orders of the Commission, or any order passed by a court in this regard.

CDBL shall direct a CDBL Participant to suspend an Account opened by the CDBL Participant with itself or suspend an account itself in respect of Securities held by the CDBL Participant in its own name:

1. on the orders of the Commission or any court in this regard; and
2. if the CDBL Participant becomes insolvent, bankrupt or in case of a body corporate being wound up.

An Account Holder may suspend his Account by making an application to his CDBL Participant on the Account Suspension Request Form.

The frozen/suspended Account may only be released on the instructions of the authority under whose directions such Account was suspended. An Account shall be released on instructions in writing from an Account Holder, where it has been suspended at the instance of the Account Holder, and on receipt of instructions from CDBL pursuant to the passing of any order of suspension by the court or the Commission.

An Account Holder may release the suspension by making an application to its CDBL Participant on the Account Suspension Release Request Form