Regulation 12 - Payment of fees and the consequences of failure to pay fees - Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993

12. Payment of fees and the consequences of failure to pay fees.─ 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 the Board may on sufficient cause being shown permit the registrar to an issue or share transfer agent to pay such fees at any time before the expiry of six months from the date on which such fees become due. (2) Where a registrar to an issue or share transfer agent fails to pay the fees as provided in sub- regulation (1), the Board may suspend the certificate, whereupon the registrar to an issue or share transfer agent shall cease to carry on any of his activity as a registrar to an issue or share transfer agent, as the case may be. ************* 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 45[of initial or permanent registration, as the case may be,] shall pay such fees in such manner and within the period specified in Schedule II: Prior to the above, the words of initial or permanent registration, as the case may be, were substituted for the words or renewal of a certificate , by the SEBI (Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations, 2011, w.e.f. 5-7-2011.