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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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