Schedule - II - Fees - Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992

SCHEDULE II Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 [Regulation 12] FEES 1 [1. Every merchant banker shall pay a sum of 2 [twenty lakh] rupees as registration fee at the time of grant of certificate of 3 [***] registration. 1A. 4 [***] 2. 5 [A merchant banker who has been granted a certificate of registration, to keep its registration in force, shall pay a fee of nine lakh rupees every three years from the sixth year, from the date of grant of certificate of registration or from the date of grant of certificate of initial 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.] 3.(a) The fee referred to in paragraph 1 shall be paid by the merchant banker within fifteen days from the date of receipt of intimation from the Board under sub-regulation (1) of regulation 8. 6 [(aa) ***] 14 [ (b) The fee referred to in paragraph 2 shall be paid by the merchant banker one month before the expiry of the block for which the fee has been paid. ] 8 [3A. The non-refundable fee payable along with an application for registration under sub-regulation (1A) of regulation 3 9 [***] shall be a sum of 10 [fifty thousand] rupees.] 15 [ 4. The fee specified in paragraphs 1, 2 and 3A shall be payable by the merchant banker by way of direct credit in the bank account through online payment using SEBI payment gateway. ] ************** NOTES:- 1 Substituted by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2011 w.e.f. 05-07-2011. Prior to the substitution the paragraphs as amended by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1996 and Securities and Exchange Board of India (Merchant Bankers) (Third Amendment) Regulations, 2006 read as under: 1. Every merchant banker shall pay a sum of [ten lakh rupees] as registration fees at the time of the grant of certificate by the Board. 2. A merchant banker to keep registration in force shall pay renewal fee of [five lakh rupees] every three years from the fourth year from the date of initial registration. 2 Substituted by the SEBI (Payment of Fees) (Amendment) Regulations, 2014, w.e.f.23-5-2014 for the words thirteen lakh thirty three thousand and three hundred . 3 The words initial was omitted 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. 4 Omitted by the 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 omission, paragraph 1A read as under: 1A. A merchant banker referred to under sub-regulation (3) of regulation 8 shall pay fee for the remaining period of two years on pro rata basis to the fee prescribed under paragraph 2. 5 Substituted by the 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, paragraph 2 read as under: 2. A merchant banker who has been granted a certificate of permanent registration, to keep its registration in force, shall pay a fee of 5 [nine] lakh rupees every three years from the sixth year from the date of grant of certificate of initial registration, or from completion of the period of renewed certificate of registration, as the case may be. Prior to above, the word nine‖ was substituted by the SEBI (Payment of Fees) (Amendment) Regulations, 2014, w.e.f. 23-5-2014 for the word five . 6 Omitted by the 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 omission, clause (aa), as inserted by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2011 w.e.f. 05-07-2011 read as under: (aa) The fee referred to in paragraph 1A shall be paid by the merchant banker three months before completion of the period of three years from the date of grant of certificate of initial registration, or within a period of three months from the date of notification of these regulations, as the case may be. 7 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 clause (b) read as under: (b) The fee referred to in paragraph 2 shall be paid by the merchant banker, at the time of grant of permanent registration, within fifteen days from the date of receipt of intimation from the Board under sub-regulation (6) of regulation 8A and thereafter the fee shall be paid three months before expiry of the block for which fee has been paid. Prior to above, clause (b) was substituted by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2011 w.e.f. 05-07-2011. Prior to the substitution the clause read as under: (b) The fee referred to in paragraph 2 shall be paid by the merchant banker within fifteen days from the date of receipt of intimation from the Board under sub regulation (3) of regulation 9. 8 Inserted by the Securities and Exchange Board of India (Merchant Bankers) (Third Amendment) Regulations, 2006. w.e.f. 7-9-2006. 9 The words or an application for 81 [permanent registration under sub-regulation (1) or sub-regulation (2) of regulation 8A omitted 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 this, the words permanent registration under sub-regulation (1) or sub-regulation (2) of regulation 8A were substituted for the words renewal of registration under sub-regulation (1A) of regulation 9 by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2011 w.e.f. 05-07-2011. 10 Substituted by the SEBI (Payment of Fees) (Amendment) Regulations, 2014, w.e.f. 23-5-2014 for the words twenty five 11 The word and figures 1,2 and 3A shall be substituted by the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2011 w.e.f. 05-07-2011. 12 The words 1A were omitted 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. 13 Inserted by the SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017, w.e.f. 6-3-2017 14. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/23 dated 05-05-2021 before it was read as, 7 [b)The fee referred to in paragraph 2 shall be paid by the merchant banker three months before expiry of the block for which fee has been paid.] 15. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/23 dated 05-05-2021 before it was read as 4. The fees specified in paragraphs 11 [1, 12 [***] ,2, and 3A] shall be payable by the merchant banker 13 [by way of direct credit in the bank account through NEFT/RTGS/IMPS or any other mode allowed by RBI or]by a demand draft in favour of Securities and Exchange Board of India payable at Mumbai or at the respective regional office.]