Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1999. - S.O. No.799(E) - SEBI/LE/18736/99 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th September, 1999 S.O. 799(E).- 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), the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, as follows : 1. (i) These regulations may be called the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1999. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In Scheduled II, for paragraphs (1), (2), (3) and (4), the following paragraphs shall be substituted, namely : 1. Every merchant banker shall pay a sum of Rupees five lacs as registration tees 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 ₹ 2.5 lacs every three years from the fourth year from the date of initial registration 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. (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. 4. The fees specified in paragraphs 1 and 2 shall be payable by the merchant banker by a demand draft in favour of Securities and Exchange Board of India payable at Mumbai or at the respective regional office. [F. No. SEBI/LE/18736/99] D.R. MEHTA, Chairman Foot Note : 1. The principal regulations Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 was published in Official Gazette of India on 22nd December, 1992 vide LE/11112/92. 2. The Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 was subsequently amended : (a) on 7th September, 1995 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1995 vide SO. No. 396(E); (b) on November 28,1995 by Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 1995 vide S.O. 939(E); (c) on June 6, 1996 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1996 vide F. No. SEBI/LE-I/9/95; (d) on December 9, 1997 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1997 vide S.O. No. 837(E); (c) on January 21,1999 by Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 1999 vide S.O. No. 74(E).