SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 7th February, 2023
SECURITIES AND EXCHANGE BOARD OF INDIA (PAYMENT OF FEES AND MODE OF PAYMENT) (AMENDMENT) REGULATIONS, 2023
No. SEBI/LAD-NRO/GN/2023/121.- In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992, Securities and Exchange Board of India (Custodians) Regulations, 1996, Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999, Securities and Exchange Board of India (Foreign Venture Capital Investor) Regulations, 2000, Securities and Exchange Board of India (Self-Regulatory Organisations) Regulations, 2004, Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009, Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011, Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, Securities and Exchange Board of India (Research Analysts) Regulations, 2014, Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 and Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021, namely:-
1. These regulations may be called the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2023.
2. They shall come into force on the first day of April, 2023.
Amendments to the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992
3. in the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992, in Schedule III, clause III shall be substituted with the following, namely,-
“III. Manner of Fees to be paid.
The fees specified above shall be paid on or before the 1st day of October each year payable by way of direct credit into the bank account through NEFT/ RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Custodian) Regulations, 1996
4. in the Securities and Exchange Board of India (Custodian) Regulations, 1996, in the Second Schedule, in Part B, clause I shall be substituted with the following, namely,-
“I. The fees specified above shall be payable by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996
5. in the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, in the Second Schedule, clause II shall be substituted with the following, namely,-
“II. The fees referred to in clause I above, shall be paid by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Collective Investment Schemes) Regulations, 1999
6. in the Securities and Exchange Board of India (Collective Investment Scheme) Regulations, 1999, in the Second Schedule, clause 3 shall be substituted with the following, namely,-
“3. The fees referred to in paragraphs 1 and 2 above, shall be paid by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Foreign Venture Capital Investor) Regulations, 2000
7. in the Securities and Exchange Board of India (Foreign Venture Capital Investor) Regulations, 2000, in the Second Schedule, in Part B, clause I shall be substituted with the following, namely,-
“I. The fees specified above shall be payable by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Self Regulatory Organizations) Regulations, 2004
8. in the Securities and Exchange Board of India (Self Regulatory Organizations) Regulations, 2004,
I. In First Schedule, in Form A, in clause 5, the words and symbols “/Demand Draft No….dated for Rs………. is attached” shall be omitted.
II. In Second Schedule, Part B shall be substituted with the following, namely,-
“Part B
The fees specified above shall be paid by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009
9. in the Securities and Exchange Board of India (Investor Protection and Education Fund) Regulations, 2009, in regulation 4, sub-regulation (2) shall be substituted with the following, namely, –
“(2) For the purposes of sub-regulation (1) above, the amounts shall be credited to the Fund through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
10. in the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011,
I. in regulation 10, sub-regulation (7) shall be substituted with the following, namely,-
“(7) In respect of any acquisition of or increase in voting rights pursuant to exemption provided for in clause (a) of sub-regulation (1), sub-clause (iii) of clause (d) of sub-regulation (1), clause (h) of sub-regulation (1), sub-regulation (2), sub-regulation (3) and clause (c) of sub-regulation (4), clauses (a), (b) and (f) of sub-regulation (4), the acquirer shall, within twenty-one working days of the date of acquisition, submit a report in such form as may be specified along with supporting documents to the Board giving all details in respect of acquisitions, along with a non-refundable fee of rupees one lakh fifty thousand by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
II. in regulation 11, sub-regulation (4) shall be substituted with the following, namely,-
“(4) The acquirer or the target company, as the case may be, shall along with the application referred to under sub-regulation (3) pay a non-refundable fee of rupees five lakh, by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
III. in regulation 16, in sub-regulation (1), the words and symbol “any other mode allowed by RBI or by way of a banker‟s cheque or demand draft payable in Mumbai in favour of the Board” shall be substituted with the words and symbol “online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time”.
Amendments to the Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011
11. in the Securities and Exchange Board of India { KYC (Know Your Client) Registration Agency} Regulations, 2011, in Schedule II, Part B after the words and symbols NEFT/RTGS/IMPS” the words and symbols “or any other mode allowed by RBI or by demand draft or bankers cheque payable to the “Securities and Exchange Board of India” at Mumbai or at the respective regional office.” shall be substituted with “or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to ”
Amendments to the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012
12. in the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, in the Second Schedule, PART B shall be substituted with the following, namely,-
“PART B
The fees specified above shall be payable by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013
13. in the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013, in the Second Schedule, clause 4 shall be substituted with the following, namely,-
“4. The fee referred to in paragraph 2 shall be paid by the applicant within fifteen days from the date of receipt of intimation from the Board by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Research Analysts) Regulations, 2014
14. in the Securities and Exchange Board of India (Research Analysts) Regulations, 2014, in the Second Schedule, clause 4 shall be substituted with the following, namely,-
“4. The fee referred to in paragraph 2 shall be paid by the applicant within fifteen days from the date of receipt of intimation from the Board by way of by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014
15. in the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, in Schedule II, clause 5 shall be substituted with the following, namely,-
“5. Such application, registration and filing fees shall be paid by the applicant/REIT by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014
16. in the Securities and Exchange Board of India (Infrastructure Investment Trusts) Regulations, 2014, in Schedule II, clause 5 shall be substituted with the following, namely,-
“5. Such application, registration and filing fees shall be paid by the applicant or InvIT by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
17. in the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015,
I. in regulation 102, sub-regulation (3) shall be substituted with the following, namely,-
“The application referred to under sub-regulation (2) shall be accompanied by a non-refundable fee of rupees one lakh payable by way of direct credit into the bank account through NEFT/ RTGS/ IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
II. in Schedule XI, clause 3 shall be substituted with the following, namely,-
“3. The fees shall be paid by way of direct credit into the bank account of the Board through N EFT/ RTGS/ IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018
18. in the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018,
I. in regulation 11, sub-regulation (4) shall be substituted with the following, namely,-
“(4) The fee mentioned in sub-regulation (2) and sub-regulation (3) shall be paid by a recognised stock exchange by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time, and the intimation of remittance shall be forwarded along with the statement of computation of the fee.”
II. In Schedule I, in Form A, clause 4 shall be substituted with the following, namely,-
“4. We/I, on behalf of the said clearing corporation, hereby undertake to comply with the requirements of section 4 of the said Act and such other conditions and terms as may be contained in the certificate of recognition or be provided or imposed subsequently.
Proof of payment by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time, towards payment of fees as specified in regulation 5/ regulation 12 of the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018, is attached.”
Amendments to the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018
19. in the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018,
I. in regulation 300, sub-regulation (3) shall be substituted with the following, namely,-
“(3) The application referred to under sub-regulation (2) shall be accompanied by a non-refundable fee of rupees one lakh payable by way of direct credit into the bank account through NEFT/ RTGS/ IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
II. in Schedule III, in clause (2), the words and symbol “any other mode allowed by RBI or by means of a demand draft drawn in favour of „the Securities and Exchange Board of India‟ payable at the place of office of the Board, in terms of Schedule IV, where the draft offer document or offer document or updated draft offer document, as the case may be, is filed.” shall be substituted with the words and symbol “online payment using the SEBI payment gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
20. in the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018, in Second Schedule, in Part B, for the fees to be paid by applicant or depository, the following shall be substituted, namely,
| “Fees to be paid by | Manner of Payment |
| Applicant or depository | By way of direct credit into the bank account through
NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.” |
Amendments to the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2018
21. in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2018,
I. in regulation 28, sub-regulation (iii) shall be substituted with the following, namely,-
“(iii)The company shall along with the application referred to under sub-regulation (ii) pay a non-refundable fee of rupees fifty thousand, by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
II. in Schedule-V, in the paragraph appearing after the table, the following shall be substituted, namely,-
“The fees shall be payable by way of direct credit into the bank account through NEFT/RTGS/IM PS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020
22. in the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020,-
I. in Schedule II, clause (4) shall be substituted with the following, namely,-
“4. The fee referred to in paragraph (2) shall be paid by the portfolio manager within fifteen days from the date of receipt of intimation from the Board under regulation 10 by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
II. in Schedule II, clause (5) shall be substituted with the following, namely,-
“(5) The fees specified in paragraphs (1) and (3) above, shall be payable by the portfolio manager by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
Amendments to the Securities and Exchange Board of India (Issue and Listing of Non-convertible Securities) Regulations, 2021
23. in the Securities and Exchange Board of India (Issue and Listing of Non-convertible Securities) Regulations, 2021,
I. in Schedule VI, clause 2 shall be substituted with the following, namely,-
“2. The fees as specified in clause (1) above shall be paid by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time.”
II. in Schedule VI, clause (4) shall be substituted with the following, namely,-
“4. Every designated stock exchange shall remit the regulatory fee collected during the month under clause (3) above to the Board before the tenth day of the subsequent month by way of direct credit into the bank account through NEFT/RTGS/IMPS or online payment using the SEBI Payment Gateway or any other mode as may be specified by the Board from time to time, along with the details of the securities listed during the month.”
BABITHA RAYUDU, Executive Director
[ADVT.-III/4/Ext yi599/2022-23]
