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Provided that, before rejecting any such application, the applicant shall be given an opportunity to remove within the time specified such objections as may be indicated by the Board.
This has reference to our letter Ref.No.11969 dated November 30, 1992 regarding payment of fees by member brokers of the Stock Exchanges. During the meeting of Stock Exchange Presidents with the Chairman, SEBI, certain questions were raised requiring clarifications on the calculation of turn-over for the purpose of payment of fees under the SEBI.
