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^{23[SCHEDULE IV} ^{SECURITIES AND EXCHANGE BOARD OF INDIA} ^{(MERCHANT BANKERS) AMENDMENT REGULATIONS, 1996} (See regulation 24A ) 1. Every merchant banker shall pay fees as set out below:

Size of the issue including premium and intended retention of oversubscription (Rs.)	Proposed Fee per document (Rs.)

Upto 5 crores	10,000
More than 5 crores and upto 10 crores	15,000
More than 10 crores and upto 50 crores	25,000
More than 50 crores and upto 100 crores	50,000
More than 100 crores and upto 500 crores	2,50,000
More than 500 crores	5,00,000

2. Fees referred to in clause (1) above, shall be paid in the following manner: The fees shall be paid along with the draft of the offer document submitted to the Board under regulation 24 . The fees shall be payable by a draft in favour of `Securities and Exchange Board of India' at Mumbai or at the respective regional offices where the draft offer document under regulation 24 is submitted.

²³Added by Securities and Exchange Board of Indai (Merchant Bankers) Amendment Regulations, 1996, w.e.f June 6, 1996 vide S.O.NO. 396 (E)