October 03, 2006
The Executive Directors/ Managing Directors/
Administrators of All Stock Exchanges
Sub: Payment of fees by Stock Brokers- Corrigendum
This has reference to Circular No.MIRSD/DR-1/FC/Cir-15/2006 dated September 29, 2006 regarding payment of fees by stock brokers pursuant to Notification No.S.O.1600 (E) dated September 25, 2006 amending SEBI (Stock brokers and Sub brokers) Regulations, 1992.
In sub para 1 of the aforesaid circular the effective date for exercising option for payment of fees in accordance with the amended Regulation has been inadvertently indicated as April 01, 2006 instead of April 01, 2007. Therefore, the sub para 1 of the circular shall be read as follows :
1.As per sub clause 2 of Schedule III A of Regulations, Stock brokers falling under sub clause (c) and (d) of clause 1 of Schedule III A of Regulations, may opt to pay fees in accordance with this schedule with effect from October 01, 2006 or on April 01, 2007 for which written consent to be given to the stock exchange on or before 31st day of October, 2006 or 28th day of February, 2007 respectively, in the format specified in Annexure 1 to this circular.
You are advised to take note of the above.