Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2007 - 11/LC/GN/2007 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 28 th May, 2007 No. 11/LC/GN/2007.- In exercise of powers conferred by sub-section (1) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with clause (f) of sub-section (2) of section 77A of the Companies Act, 1956 (1 of 1956) the Board hereby makes the following regulations to amend the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998, namely :- 1. These Regulations may be called the Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2007. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 1998, in Schedule IV, for paragraph (1), the following paragraph shall be substituted, namely :- (1) Every merchant banker shall while submitting the offer document or a copy of the public announcement to the Board, pay fees as set out below :- Offer size Fee (Rs.) Less than or equal to one crore rupees. One lakh rupees (Rs. 1,00,000) More than one crore rupees, but less than or equal to five crore rupees. Two lakh rupees (Rs. 2,00,000) More than five crore rupees, but less than or equal to ten crore rupees. Three lakh rupees (Rs. 3,00,000) More than ten crore rupees, but less than or equal to one thousand crore rupees. 0.5 per cent of the offer size. More than one thousand crore rupees, but less than or equal to five thousand crore rupees. Five crore rupees (Rs. 5,00,00,000) plus 0.125 per cent of the portion of the offer size in excess of one thousand crore rupees. (Rs. 1000,00,00,000). More than five thousand crore rupees. Ten crore rupees (Rs. 10,00,00,000). M. DAMODARAN, Chairman [ADVT. III/IV/69ZB/2007/Exty.] Footnotes:- 1. Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 1998, the principal regulations, were published in the Gazette of India on November 14, 1998; vide S.O. 975(E). 2. It was subsequently amended- (a) on September 21, 1999 by SEBI (Buy-Back of Securities) (Amendment) Regulations, 1999 Vide S.O. 776(E). (b) on November 28, 2001 by SEBI (Buy-Back of Securities) (Amendment) Regulations, 2001, vide S.O. 1181(E). (c) on June 18, 2004 by SEBI (Buy-Back of Securities) (Amendment) Regulations, 2004 vide S.O. 745(E). (d) on August 21, 2006 by SEBI (Buy-Back of Securities) (Amendment) Regulations, 2006 vide S.O. 1331(E).