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
(MERCHANT BANKERS) (AMENDMENT)
REGULATIONS, 2007
No.11/LC/GN/2007/2517. - 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 (Merchant Bankers)
Regulations, 1992, namely :-
1.
These Regulations may be called the Securities and Exchange
Board of India (Merchant Bankers) (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 (Merchant
Bankers) Regulations, 1992, in Schedule IV, for clause 1, the following clause shall
be substituted, namely:-
“1. There shall be charged on every draft offer document submitted
by a merchant banker to the Board, a fee at the following rates:
A.
Public Issues
Size of the issue, including intended retention of
oversubscription
|
Amount / Rate of fees
|
Less than or
equal to one crore rupees.
|
A flat charge of ten thousand rupees (Rs.10,000/-).
|
More than one crore rupees, but less than or equal to five thousand crore rupees.
|
0.1 per cent. of the issue size.
|
More than five thousand
crore rupees, but less than or equal to twenty five
thousand crore rupees.
|
Five crore rupees (Rs.5,00,00,000/-) plus 0.025 per cent of the portion of the
issue size in excess of five thousand crore rupees
(Rs.5000,00,00,000/-).
|
More than twenty
five thousand crore rupees.
|
A flat charge of ten crore
rupees (Rs.10,00,00,000/-).
|
B.
Rights Issues
Size of the issue, including intended retention of
oversubscription
|
Amount / Rate of fees
|
Less than or
equal to two crores rupees.
|
A flat charge of ten thousand rupees (Rs.10,000/-).
|
More than two crores rupees and less than or equal to five hundreds crores rupees.
|
0.05 per cent. of the issue size.
|
More than five
hundreds crores rupees.
|
A flat charge of twenty five lakhs
rupees (Rs.25,00,000/-).”
|
[ADVT.
III/4/69ZB/2007/Exty.]
M. DAMODARAN
CHAIRMAN
SECURITIES AND EXCHANGE BOARD OF INDIA
Footnotes :
1.
The principal regulations Securities and Exchange Board of
India (Merchant Bankers) Regulations, 1992 were published in Official Gazette
of India on 22nd December, 1992 vide F.No.20/15/SE/92.
2.
The Securities and Exchange Board of India (Merchant
Bankers) Regulations, 1992 was subsequently amended :
(a)
on 7th
September, 1995 by Securities and Exchange Board of India (Merchant
Bankers) (Amendment) Regulations, 1995 vide No. S.O. 396 (E);
(b)
on November 28, 1995 by Securities and Exchange Board of India
(Payment of Fees) (Amendment) Regulations, 1995 vide No. S.O. 939 (E);
(c)
on June
6, 1996 by Securities and Exchange Board of India (Merchant
Bankers) (Amendment) Regulations, 1996 vide F.No. SEBI/LE-I/9/95;
(d)
on December
9, 1997 by Securities and Exchange Board of India (Merchant
Bankers) (Amendment) Regulations, 1997 vide No. S.O. 837 (E);
(e)
on January 21, 1999 by Securities and Exchange Board of India
(Merchant Bankers) (Amendment) Regulations, 1999 vide No. S.O. 74 (E).
(f)
on September 30, 1999 by Securities and Exchange Board of India
(Merchant Bankers) (Amendment) Regulations, 1999 vide No. S.O. 799 (E).
(g)
on November 17, 1999 by Securities and Exchange Board of India
(Merchant Bankers) (Second Amendment) Regulations, 1999 vide No. S.O. 1119 (E).
(h)
on March 28, 2000 by Securities and Exchange Board of India (Appeal to
Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide No. S.O. 278
(E).
(i)
on May 29, 2001 by Securities and Exchange Board of India (Investment
Advice by Intermediaries) (Amendment) Regulations, 2001 vide No. S.O. 476 (E).
(j)
on September 27, 2002 by Securities and Exchange Board of India
(Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty)
Regulations, 2002 vide No. S.O. 1045 (E).
(k)
on October
1, 2003 by Securities and Exchange Board of India (Merchant
Bankers) (Amendment) Regulations, 2003 vide No. S.O. 1154 (E).
(l)
on March 10, 2004 by the Securities and Exchange Board of
India (Criteria for Fit and Proper Person) Regulations, 2004 vide S.O. No.
398(E).
(m)
on April 19, 2006 by the Securities and Exchange Board of
India (Merchant Bankers) (Amendment) Regulations, 2006 vide No. S.O. 560 (E).
(n)
on May
3, 2006 by the Securities and Exchange Board of India (Merchant
Bankers) (Second Amendment) Regulations, 2006 vide No. S.O. 640 (E).
(o)
on September
7, 2006 by the Securities and Exchange Board of India (Merchant
Bankers) (Third Amendment) Regulations, 2006 vide No. S.O. 1448 (E).
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