Regulation 12 - Payment of fees, and the consequences of failure to pay fees. - Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993

Payment of fees, and the consequences of failure to pay fees. 12. 1 [(1) Every applicant eligible for grant of registration, shall pay the fees in such manner and within the period specified in Schedule II: ] Provided that Board may, on sufficient cause being shown, permit the debenture trustee to pay such fees at any time before the expiry of six months from the date on which such fees become due. (2) Where the debenture trustee fails to pay the fees as provided in sub-regulation (1), the Board may suspend the certificate, whereupon the debenture trustee shall forthwith cease to act as a debenture trustee. ************** NOTES:- 1 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 sub-regulation (1) read as under: (1) Every applicant eligible for grant 1 [of initial or permanent registration, as the case may be] shall pay the fees in such manner and within the period specified in Schedule II: Prior to this the words of initial or permanent registration, as the case may be were substituted by the SEBI (Debenture Trustees) (Amendment) Regulations, 2011, w.e.f. 5-7-2011 for the words or renewal of a certificate .