Payment of fees, and the consequences of failure to pay fees

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..... chedule II:] 2 [***] Provided 3 [***] that a stock broker 4 [***], who has been granted a certificate under section 12 of the Act and pays fees under the Securities and Exchange Board of India (Stock Brokers and Sub-brokers) Regulations, 1992 5 [***], shall not be required to pay fees under sub-regulation (1). (2) Where an underwriter fails to pay the fees as provided in sub-regulation (1), the Bo .....

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..... ons, 1997, w.e.f. 17-01-1997. Prior to omission, it read as under: Provided that the Board may on sufficient cause being shown permit the underwriter to pay such fees at any time before the expiry of six months from the date on which such fees become due. 3 Word further omitted, ibid. 4 Words or a merchant banker omitted by the SEBI (Underwriters) (Amendment) Regulations, 2002, w.e.f. 10-12-2002. .....

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