Review of Dematerialisation Charges

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... harges 1. Investors have been representing to SEBI seeking a reduction in the charges paid by them for dematerialisation of securities. The rationalization of charge structure for dematerialisation was discussed at the Secondary Market Advisory Committee of SEBI (SMAC). 2. After careful consideration of the recommendations of the SMAC, as a first step, it has been decided to rationalize the exis .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... sition) in the respective depositories, subject to a minimum as mentioned below: Nominal value of admitted securities (Rs.) Annual Custodial Fee payable by a Issuer to each Depository (Rs.) (*) Upto 5 crore 4,000 Above 5 crore and upto 10 crore 10,000 Above 10 crore and upto 20 crore 20,000 Above 20 crore 30,000 * Plus service tax as applicable The issuers would be required to pay cust .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... on taken in this regard in Section II, item no. 13 of the Monthly Development Report for the month of February, 2005. 4. The Depositories are advised to:- a) make amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately, as may be applicable/necessary ; b) bring the provisions of this circular to the notice of the DPs of the Depositorie .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X