Regulation 11 - Payment of fees and the consequences of failure to pay fees - Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994

Payment of fees and the consequences of failure to pay fees. 11. 2 [(1) Every applicant eligible for grant of registration, shall pay the fees in such manner and within the period specified in Schedule II.] (2) Where the applicant fails to pay the fees as provided in sub-regulation (1) read with Schedule II, the Board may suspend the registration certificate, whereupon the applicant shall cease to carry on any activity as a banker to an issue for the period during which the suspension subsists. ************** NOTES:- 1. The words of initial or permanent registration, as the case may be were inserted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2011, w.e.f. 05-07-2011. 2 Substituted by the Securities and Exchange Board of India (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations, 2016 w.e.f. 08-12-2016. Prior to substitution it read as under: (1) Every applicant eligible for grant of a certificate 1 [of initial or permanent registration, as the case may be] shall pay such fees in such a manner and within the period specified in Schedule II.