SECURITIES AND EXCHANGE BOARD OF INDIA

NOTIFICATION

Mumbai, the 30th Day of August, 2000

SECURITIES AND EXCHANGE BOARD OF INDIA

(STOCK BROKERS AND SUB-BROKERS) (SECOND AMENDMENT)

REGULATIONS, 2000

S.O. 787(E)-ln exercise of the powers conferred by sub-section (1) of Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby makes the following regulations namely :-

1. These regulations may be called the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations, 2000.
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.

(a) In Schedule III, after paragraph 4, the following paragraph shall be inserted, namely:-"4A. Where a stock exchange has formed a subsidiary company, which has become a stock broker of another stock exchange, then the turnover of the stock broker who is buying, selling or dealing in securities, through the subsidiary company as a sub-broker, shall be excluded from the turnover of the subsidiary company, only if the stock broker has paid five years turnover based fees plus fee for a block of five years in accordance with the regulations, on the concerned stock exchange which has formed the subsidiary company."

Footnote:

1.  
   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. It was subsequently amended on

1.  
   1. November 28, 1995 by the SEBI (Payment of Fees) (Amendment) Regulations. 1995 vide S.O. No. 939(E)
   2. January 5. 1998 by SEBI (Stock Brokers and Stock-Brokers) (Amendment) Regulations. 1998 vide S.O. No. 13(E).
   3. January 21, 1998 by SEBI (Stock Brokers and Sub-Brokers) (Second Amendment) Regulations. 1998 @.vide S.O. No. 75(E).
   4. December 16, 1998 by SEBI (Stock Brokers and Sub-brokers) (Third Amendment) Regulations, 1998 @ vide S.O. No. 1(78(E).
   5. July 6, 1999 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 1999 by vide S.0. No. 1078(E).
   
   March 3, 2000 by SEBI (Stock Brokers and Sub-Brokers) (Amendment) Regulations, 2000 vide S.O. No. 234(E).