Securities And Exchange Board Of India (Portfolio Managers) (Amendment) Regulations, 2004. - S.O. No.654(E) - SEBI/LAD/DOP/10705/2004 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 27th May, 2004 S.O. No.654 (E). In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993, namely :- 1. These Regulations may be called the Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2004. 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 (Portfolio Managers) Regulations, 1993: (i) in Regulation 3, for sub-regulation (1), the following shall be substituted, namely: (1) An application by a Portfolio Manager for the grant of a certificate shall be made to the Board in Form A and shall be accompanied by a non-refundable application fee, as specified in clause (1) of Schedule II, to be paid in the manner specified in Part B thereof. (ii) In Regulation 8, (1) after the words on receipt of the payment of and before the word fees , the word, registration , shall be inserted. (2) after the words as specified in , and before the words Schedule II , the words clause (1A) of , shall be inserted. (iii) In Schedule II, (I) for the existing clause (1), the following shall be substituted, namely:- (1) Every portfolio manager shall pay a sum of 25,000/- as application fees along with the application for grant of certificate of registration. (1A) Every portfolio manager shall pay a sum of 5 lakhs as registration fees at the time of the grant of certificate by the Board. [F.No. SEBI/LAD/DOP/10705/2004] G.N. BAJPAI, Chairman Footnotes: 1. The principal regulations, SEBI (Portfolio Managers) Regulations, 1993 were issued under S.O. No. SEBI/LE/93/III dated January 7, 1993 published in the Gazette of India, Part II, Section 3(ii) dated January 7, 1993. 2. The Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993, were subsequently amended on:- (a) November 28, 1993 by , SEBI (Portfolio Managers) (Amendment) Regulations, 1993 published in the Official Gazette vide S.O. No. 939(E). (b) November 28, 1995 by SEBI (Payment of Fees) (Amendment) Regulations, 1995 vide S.O No.939 (E). (c) January 05, 1998 by SEBI (Portfolio Managers) (Amendment) Regulations, 1998 published in the Official Gazette vide S.O. No. 20 (E). (d) September 30, 1999 by SEBI (Portfolio Managers) (Amendment) Regulations, 1999 published in the Official Gazette vide S.O. No. 793 (E). (e) February 22, 2000 by SEBI (Portfolio Managers) (Amendment) Regulations, 2000 published in the Official Gazette vide S.O. No. 146 (E). (f) March 28, 2000 by SEBI (Appeal to Securities Appellate Tribunal) (Amendment) Regulations, 2000 published in the Official Gazette vide S.O no. 278(E). (g) May 29, 2001 by SEBI (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide S.O no. 476 (E). (h) October 11, 2002 by SEBI (Portfolio Managers) (Amendment) Regulations, 2002 vide S.O no. 1087 (E).