THE GAZETTE OF INDIA

EXTRAORDINARY

PART II SECTION 3 - SUB-SECTION (ii)

PUBLISHED BY AUTHORITY

New Delhi, Tuesday, August 1, 2006

SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, 31 July, 2006

SECURITIES AND EXCHANGE BOARD OF INDIA (STOCK BROKERS AND SUB BROKERS) (AMENDMENT) REGULATIONS, 2006

S.O.No. 1235 (E). 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 (Stock Brokers and Sub Brokers) Regulations, 1992 namely:-

1. These Regulations may be called the Securities and Exchange Board of India (Stock Brokers and Sub Brokers) (Amendment) Regulations, 2006.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In Securities and Exchange Board of India (Stock Brokers and Sub Brokers) Regulations, 1992, in Schedule III, for paragraph II, the following paragraph shall be substituted, namely -

�II. Fees to be paid by sub-brokers

Every sub-broker shall pay fees in the manner set out below:

(a) Where a sub-broker was granted certificate of registration by the Board before August 1, 2006 -

(i) he shall pay a sum of ten thousand rupees for the block of five financial years commencing from April 1, 2007; and

(ii) after the expiry of the said block of five financial years, he shall pay a sum of five thousand rupees for every subsequent block of five financial years.

(b) Where a sub-broker is granted certificate of registration by the Board on or after August 1, 2006 -

(i) he shall pay a sum of ten thousand rupees for the block of five financial years commencing from the financial year in which registration has been granted; and

(ii) �after the expiry of the said block of five financial years, he shall pay a sum of five thousand rupees for every subsequent block of five financial years.

(c) Every sub-broker shall pay fees under sub-clause (a) or sub-clause (b), as the case may be, within such time as may be specified by the Board.�

��M. DAMODARAN

CHAIRMAN

F.No. SEBI\LAD\DOP\ 3107 \2006

Footnote:

1. Securities and Exchange Board of India (Stock Brokers And Sub-Brokers) Regulations, 1992, the Principal Regulations, was published in the Gazette of India on October 23, 1992 vide GSR No. 780 (E).

2. The Principal Regulations subsequently amended on :

(a) November 28, 1995 by the SEBI (Payment of Fees) (Amendment) Regulations, 1995 vide S.O. No. 939 (E).

(b) January 5, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1998 vide S.O. No. 13 (E).

(d) December 16, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Third Amendment) Regulations, 1998 vide S.O. No. 1078 (E).

(e) July 6, 1999 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1999 vide S.O. No. 541 (E).

(f) March 14, 2000 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2000 vide S.O. No. 234 (E).

(g) March 28, 2000 by SEBI (Appeal to Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide S.O. No. 278 (E).

(h) August 30, 2000 by SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2000 vide S.O. No. 787 (E).

(i) May 29, 2001 by SEBI (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide S.O. No. 476(E).

(j) November 15, 2001 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2001 vide S.O. No. 1128 (E).

(k) February 20, 2002 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2002 vide S.O. No. 220 (E).

(l) September 27, 2002 by SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide S.O. No. 1045 (E).

(m) September 23, 2003 by the SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2003 vide S.O. 1095 (E).

(n) November 20, 2003 by the SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2003 vide F. No. SEBI /LAD /20795 /2003.

(o) 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).

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THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3 - SUB-SECTION (ii) PUBLISHED BY AUTHORITY New Delhi, Tuesday, August 1, 2006 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, 31 July, 2006 SECURITIES AND EXCHANGE BOARD OF INDIA (STOCK BROKERS AND SUB BROKERS) (AMENDMENT) REGULATIONS, 2006 S.O.No. 1235 (E). 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 (Stock Brokers and Sub Brokers) Regulations, 1992 namely:- 1. These Regulations may be called the Securities and Exchange Board of India (Stock Brokers and Sub Brokers) (Amendment) Regulations, 2006. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In Securities and Exchange Board of India (Stock Brokers and Sub Brokers) Regulations, 1992, in Schedule III, for paragraph II, the following paragraph shall be substituted, namely - �II. Fees to be paid by sub-brokers Every sub-broker shall pay fees in the manner set out below: (a) Where a sub-broker was granted certificate of registration by the Board before August 1, 2006 - (i) he shall pay a sum of ten thousand rupees for the block of five financial years commencing from April 1, 2007; and (ii) after the expiry of the said block of five financial years, he shall pay a sum of five thousand rupees for every subsequent block of five financial years. (b) Where a sub-broker is granted certificate of registration by the Board on or after August 1, 2006 - (i) he shall pay a sum of ten thousand rupees for the block of five financial years commencing from the financial year in which registration has been granted; and (ii) �after the expiry of the said block of five financial years, he shall pay a sum of five thousand rupees for every subsequent block of five financial years. (c) Every sub-broker shall pay fees under sub-clause (a) or sub-clause (b), as the case may be, within such time as may be specified by the Board.� ��M. DAMODARAN CHAIRMAN F.No. SEBI\LAD\DOP\ 3107 \2006 Footnote: 1. Securities and Exchange Board of India (Stock Brokers And Sub-Brokers) Regulations, 1992, the Principal Regulations, was published in the Gazette of India on October 23, 1992 vide GSR No. 780 (E). 2. The Principal Regulations subsequently amended on : (a) November 28, 1995 by the SEBI (Payment of Fees) (Amendment) Regulations, 1995 vide S.O. No. 939 (E). (b) January 5, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1998 vide S.O. No. 13 (E). (c) January 21, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 1998 vide S.O. No. 75 (E). (d) December 16, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Third Amendment) Regulations, 1998 vide S.O. No. 1078 (E). (e) July 6, 1999 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1999 vide S.O. No. 541 (E). (f) March 14, 2000 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2000 vide S.O. No. 234 (E). (g) March 28, 2000 by SEBI (Appeal to Securities Appellate Tribunal) (Amendment) Regulations, 2000 vide S.O. No. 278 (E). (h) August 30, 2000 by SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2000 vide S.O. No. 787 (E). (i) May 29, 2001 by SEBI (Investment Advice by Intermediaries) (Amendment) Regulations, 2001 vide S.O. No. 476(E). (j) November 15, 2001 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2001 vide S.O. No. 1128 (E). (k) February 20, 2002 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2002 vide S.O. No. 220 (E). (l) September 27, 2002 by SEBI (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002 vide S.O. No. 1045 (E). (m) September 23, 2003 by the SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2003 vide S.O. 1095 (E). (n) November 20, 2003 by the SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2003 vide F. No. SEBI /LAD /20795 /2003. (o) 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).