9911796707
TMI BlogFramework for Utilization of Regulatory Fee Foregone by SEBIX X X X Extracts X X X X X X X X Extracts X X X X ..... rs/FPOs from the amount saved by the Exchanges due to reduction of regulatory fee. 2. In order to pass on the desired benefits from reduction of regulatory fees on agricultural commodity derivatives, it has been decided that the stock exchanges dealing with agricultural commodity derivatives shall create a separate fund earmarked for the benefit of farmers/FPOs in which, the regulatory fee forgone by SEBI shall be deposited and utilized exclusively for the benefit of and easy participation by Farmers and FPOs in the agri-commodity derivatives market. Any income on investments from the fund shall also be ploughed back into the same fund. 3. In this regard, exchanges shall follow the guiding principles outlined below for the purpose of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a fair and equitable manner while utilising the proceeds of the fund for their benefit. Accordingly, the choice of activities for utilizing the fund and the rate of benefit should be such that benefits with respect to the activity are imparted to all farmers/FPOs participating during the year and are not restricted to a select few farmers/FPOs. 4. While preparing the action plan for a financial year, the exchanges may consider one or more of the following activities for utilization of the fund for benefit of farmers/FPOs 4.1. Funding of Warehousing and/or Assaying charges Waiver/subsidy in warehousing and/or assaying charges for agricultural commodities deposited for delivery on exchange platform by the farmers/FPOs. 4.2. C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lar shall be effective from the date of this circular. 7. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 , to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. 8. Exchanges are advised to: i. to make necessary amendments to the relevant bye-laws, rules and regulations. ii. bring the provisions of this circular to the notice of the stock brokers of the Exchange and also to disseminate the same on their website. iii. communicate to SEBI, the status of the implementation of the provisions of this circular 9. This circular is available on SEBI website www.sebi.gov.in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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