SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, the 30th September, 1999

Securities and Exchange Board of India (Underwriters)

(Amendment) Regulations, 1999

S.O. 797(E). – In exercise of powers conferred by sub-section (1) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Underwriters) Regulations, 1993, as follows :

(i) These regulations may be called the Securities and Exchange Board of India (Underwriters)(Amendment) Regulations, 1999.

(ii) They shall come into force on the date of their publication in the Official Gazette.

In Schedule II, for paragraphs 1,2,3 and 4, the following paragraphs shall be substituted, namely :
” 1. Every underwriter shall pay a sum of Rupees five lacs as registration fees at the time of the grant of certificate by the Board.

Every underwriter to keep registration in force shall pay renewal fees of Rs. 2 lacs every three years from the fourth year from the date of initial registration.
(a) The fee referred to in paragraph 1 shall be paid by the underwriter within fifteen days from the date of receipt of intimation from the Board under regulation 8.

(b) The fee referred to in paragraph 2 shall be paid by the underwriter within fifteen days of receipt of intimation from the Board disposing off the application for renewal made under sub-regulation (1) of regulation 9.

The fees specified in paragraphs 1 and 2 shall be payable by the Underwriter by a demand draft in favour of ‘Securities and Exchange Board of India’ payable at Mumbai or at the respective regional office.”
[F. No. SEBI/LE/18733/99]D.R. MEHTA, Chairman
Footnote :

Securities and Exchange Board of India (Underwriters) Regulations, 1993, the principal regulation was published in the Gazette of India on October 8, 1993 vide No. LE/10/93.
It was subsequently amended –
on November 28, 1995 by the Securities and Exchange Board of India (Payment of Fees) Amendment Regulations, 1995 vide S.O. No. 939 (E).
on January 17, 1997 by the Securities and Exchange Board of India (Underwriters) ( Amendment) Regulations, 1997 which was published in the Gazette of India vide S.O. No. 46 (E).
on January 5, 1998 by the Securities and Exchange Board of India (Underwriters) (Amendment) Regulations, 1998 vide S.O. No.21(E).

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