THE GAZETTE OF INDIA
EXTRAORDINARY
PART
–III – SECTION 4
PUBLISHED
BY AUTHORITY
NEW DELHI, TUESDAY, MAY 29, 2007
SECURITIES AND
EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 28th
May, 2007
SECURITIES AND
EXCHANGE BOARD OF INDIA (BUY-BACK OF
SECURITIES) (AMENDMENT) REGULATIONS, 2007.
No.11/LC/GN/2007 - 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) read with clause (f) of
sub-section (2) of Section 77A of the Companies Act, 1956 (1 of 1956) the Board
hereby makes the following regulations to amend the Securities and Exchange
Board of India (Buy-Back of Securities) Regulations, 1998, namely:-
1. These Regulations may be called the Securities and Exchange Board of
India (Buy-Back of Securities) (Amendment) Regulations, 2007.
2. They shall come into force on the date of their publication in the
Official Gazette.
3. In the Securities and Exchange Board of India (Buy-Back of Securities)
Regulations, 1998, in Schedule IV, for paragraph (1), the following paragraph
shall be substituted, namely:-
“(1). Every merchant banker shall while
submitting the offer document or a copy of the public announcement to the
Board, pay fees as set out below:-
|
Offer size
|
Fee (Rs.)
|
|
Less than or equal
to one crore rupees.
|
One lakh rupees (Rs. 1,00,000/-).
|
|
More than one crore rupees, but less than or equal to five crore rupees.
|
Two lakh rupees (Rs. 2,00,000/-).
|
|
More than five crore rupees, but less than or equal to ten crore rupees.
|
Three lakh rupees (Rs. 3,00,000/-).
|
|
More than ten crore rupees, but less than or equal to one thousand crore rupees.
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0.5% of the offer size.
|
|
More than one thousand
crore rupees, but less than or equal to five thousand
crore rupees.
|
Five crore rupees (Rs. 5,00,00,000/-) plus 0.125%
of the portion of the offer size in excess of one thousand crore rupees (Rs.1000,00,00,000/-).
|
|
More than five thousand
crore rupees.
|
Ten crore rupees (Rs.10,00,00,000/-).”
|
[ADVT. III/IV/69ZB/2007/Exty.]
M. DAMODARAN
CHAIRMAN
SECURITIES AND EXCHANGE BOARD OF INDIA
Footnotes:
1.
Securities and Exchange Board of India (Buy-back of Securities) Regulations,
1998, the principal regulations, were published in the Gazette of India on November 14, 1998; vide S.O. No. 975 (E).
2. It was
subsequently amended –
(a)
on September 21, 1999 by SEBI (Buy-Back of Securities)
(Amendment) Regulations, 1999 vide S.O. 776 (E).
(b)
on November 28, 2001 by SEBI (Buy-Back of Securities)
(Amendment) Regulations, 2001 vide S.O. 1181(E).
(c)
on June 18, 2004 by SEBI (Buy-Back of Securities)
(Amendment) Regulations, 2004 vide S.O. 745 (E).
(d)
on August 21, 2006 by SEBI (Buy-Back of Securities)
(Amendment) Regulations, 2006 vide S.O. 1331 (E).
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