SCHEDULE - II - FEES - Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993

SCHEDULE II Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993 [Regulation 12] FEES 1 [1. Every portfolio manager shall pay a non-refundable fee of one lakh rupees along with the application for grant 2 [***] of certificate of registration.] 3 [(1A) Every portfolio manager shall pay a sum of 4 [ten lakh rupees] as registration fees at the time of the grant of certificate by the Board.] 5 [2. A portfolio manager who has been granted a certificate of registration, to keep its registration in force, shall pay fee of five lakh rupees every three years , from the date of grant of certificate of registration or from the date of grant of certificate of registration granted prior to the commencement of the Securities and Exchange Board of India (Change in Conditions of Registration of Certain Intermediaries) (Amendment) Regulations, 2016, as the case may be, within three months before expiry of the block period for which fee has been paid.] 3. (a) 6 [The fee referred to in paragraph (1A) shall be paid by the portfolio manager within fifteen days from the date of receipt of intimation from the Board under regulation 8 by way of demand draft in favour of 'Securities and Exchange Board of India' payable at Mumbai or at respective regional or local office or by way of by way of direct credit in the bank account through NEFT/RTGS/IMPS or any other mode allowed by RBI.] (b) 7 [***] 4. The fees specified in paragraphs (1) and (2) above, shall be payable by the portfolio manager by a demand draft in favour of Securities and Exchange Board of India payable at Mumbai or at the respective regional office 8 [by way of direct credit in the bank account through NEFT/RTGS/IMPS or any other mode allowed by RBI].] ******** 1 Substituted by the SEBI (Portfolio Managers) (Second Amendment) Regulations, 2006, w.e.f. 7-09-2006. Prior to substitution, paragraph 1, inserted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2004, w.e.f. 27-05-2004 read as under: 1. Every portfolio manager shall pay a sum of ₹ 25,000/- as application fees along with the application for grant of certificate of registration. Prior to such substitution, paragraph 1, 2, 3 and 4 were substituted by the SEBI (Portfolio Managers) (Amendment) Regulations, 1999, w.e.f. 30-09-1999 for the following: 1. Every Portfolio Manager shall subject to paragraphs 3 and 4 of this Schedule, pay a sum of ₹ 2.50 lakhs every year for the first two years and thereafter a sum of ₹ 1 lakh for the third year. 2. Every Portfolio Manager shall to keep his registration in force, pay renewal fee of ₹ 75, 000/- per annum from the fourth year from the date of initial registration. 3. Fee specified in paragraphs (1) and (2) above shall be paid in the following manner a) First installment is to be paid within 15 days from the date of intimation from the Board under regulation 8. b) Subsequent installments including the renewal fee to be paid on or before expiry of 12 months of each year of registration beginning from date of grant of such registration. 4. The fees specified in paragraphs (1) and (2) above, shall be payable by [a cheque or] draft in favor of Securities and Exchange Board of India at Bombay [or at the respective regional office.] [The words a cheque or omitted by the Securities and Exchange Board of India (Payment of Fees) Amendment Regulations, 1995, w.e.f. 28-11-95]. The words or at the respective regional office inserted by the Securities and Exchange Board of India (Payment of Fees) Amendment Regulations, 1995 w.e.f. 28-11-95. 2 The words or renewal omitted by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016. 3 Inserted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2004, w.e.f. 27-05-2004. 4 Substituted for Rs.5 lakhs by the SEBI (Portfolio Managers) (Second Amendment) Regulations, 2006, w.e.f. 7-09-2006 5 Substituted for Every portfolio manager shall pay a renewal fee of five lakh rupees upon grant of renewal by the Securities andExchange Board of India (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016. Prior to above, Paragraph 2 was previously substituted by the SEBI (Portfolio Managers) (Second Amendment) Regulations, 2006, w.e.f. 7-09-2006. Prior to substitution, paragraph 2 inserted by the SEBI (Portfolio Managers) (Amendment) Regulations, 1999, w.e.f. 30-09-1999 read as under: Every portfolio manager to keep his registration in force shall pay renewal fee of ₹ 2.5 lakhs every three years from the fourth year from the date of initial registration. 6 Substituted by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016. Prior to substitution, clause (a) read as under: The fee referred to in paragraph (1) shall be paid by the portfolio manger within fifteen days from the date of receipt of intimation from the Board under regulation 8. 7 Omitted by the Securities andExchange Board ofIndia (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016. Prior to omission, clause (b) read as under: (b) The fee referred to in paragraph (2), shall be paid by the portfolio manager within fifteen days from the date of receipt of intimation from the Board 7 [under sub-regulation (3) of regulation 9.] - the words under sub-regulation (3) of regulation 9 were substituted for the words disposing of the application for renewal made under sub-regulation (1) of regulation 9 , by the SEBI (Portfolio Managers (Second Amendment) Regulations), 2006, w.e.f. 7-09-2006. 8 Inserted by the SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017, w.e.f. 6-3-2017.