Date: 2021-05-05Category: Extra OrdinaryState: Union GovernmentCountry: India
In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act 1992 15 of 1992 and section 25 of the Depositories Act 1996
## Report on the Securities and Exchange Board of India (SEBI) Payment of Fees and Mode of Payment Amendment Regulations, 2021
**1. Executive Summary:**
This report analyzes the Securities and Exchange Board of India (SEBI) Payment of Fees and Mode of Payment Amendment Regulations, 2021, as published in the Gazette of India on May 5, 2021. This amendment primarily aims to mandate direct credit through online payment using the SEBI payment gateway for various fees payable under several SEBI regulations. Key findings indicate a shift towards a centralized online payment system for fees related to stock brokers, merchant bankers, debenture trustees, registrars to an issue and share transfer agents, bankers to an issue, credit rating agencies, and depositories and participants. This is to streamline the payment processes.
**2. Introduction:**
The purpose of this report is to provide an informative overview and analysis of the SEBI Payment of Fees and Mode of Payment Amendment Regulations, 2021, based solely on the published text. The report will cover the amendment's objectives, key changes, affected stakeholders, and inferred implementation aspects.
**3. Policy Overview:**
* This report concerns an **amendment** to existing regulations. The regulations being amended are:
* Securities and Exchange Board of India Stock Brokers Regulations, 1992
* Securities and Exchange Board of India Merchant Bankers Regulations, 1992
* Securities and Exchange Board of India Registrars to an Issue and Share Transfer Agents, 1993
* Securities and Exchange Board of India Debenture Trustees Regulations, 1993
* Securities and Exchange Board of India Bankers to an Issue Regulations, 1994
* Securities and Exchange Board of India Credit Rating Agencies Regulations, 1999
* Securities and Exchange Board of India Depositories and Participants Regulations, 2018
* **Core Objective(s):** The core objective, as inferred from the text, is to mandate a standardized payment method for fees payable under the listed SEBI regulations, specifically requiring "direct credit in the bank account through online payment using SEBI payment gateway." Another objective is to ensure timely payment of recurring fees by requiring payment one month before the expiry of the existing block period.
**4. Background and Rationale:**
The amendment likely aims to address inefficiencies or inconsistencies in the existing fee payment processes. The move to a standardized online payment gateway suggests a desire to improve transparency, reduce processing times, and enhance SEBI's ability to track and manage fee collection. Ensuring timely payment of recurring fees is another rationale, as it reduces the risk of payment defaults and disruptions.
**5. Key Provisions / Changes:**
The amendment introduces the following key changes to the regulations:
* **Stock Brokers Regulations, 1992:** Amends Schedule V to require stock brokers and clearing members to pay fees via direct credit through the SEBI payment gateway.
* **Merchant Bankers Regulations, 1992:** Amends Schedule II to mandate merchant bankers to pay fees through direct credit via the SEBI payment gateway. Also requires payment one month before the expiry of the block for which the fee has been paid.
* **Debenture Trustees Regulations, 1993:** Amends Schedule II to mandate debenture trustees to pay fees through direct credit via the SEBI payment gateway. Also requires payment one month before the expiry of the block for which the fee has been paid.
* **Registrars to an Issue and Share Transfer Agents Regulations, 1993:** Amends Schedule II to mandate Registrars to an Issue and Share Transfer Agents to pay fees through direct credit via the SEBI payment gateway. Also requires payment one month before the expiry of the block for which the fee has been paid.
* **Bankers to an Issue Regulations, 1994:** Amends Schedule II to mandate bankers to an issue to pay fees through direct credit via the SEBI payment gateway. Also requires payment one month before the expiry of the block for which the fee has been paid.
* **Credit Rating Agencies Regulations, 1999:** Amends Second Schedule to mandate credit rating agencies to pay fees through direct credit via the SEBI payment gateway. In addition, Recurring registration fees must be paid one month before the expiry of the block for which the fee has been paid.
* **Depositories and Participants Regulations, 2018:** Amends regulation 36 to require the fee to be paid one month before the expiry of the block for which the fee has been paid. Also, amends Second Schedule, requiring participants fees to be paid to the depository, which will then forward to SEBI using direct credit through the SEBI payment gateway.
In each case, the original payment methods (which are not specified in the provided text) are effectively replaced by the mandatory online payment gateway system. This aims to standardize and streamline the fee payment process.
**6. Target Audience and Stakeholders:**
The target audience and stakeholders directly affected by these amendments include:
* Stock Brokers and Clearing Members
* Merchant Bankers
* Debenture Trustees
* Registrars to an Issue and Share Transfer Agents
* Bankers to an Issue
* Credit Rating Agencies
* Depositories and Participants
These entities are now required to utilize the SEBI payment gateway for fee payments.
**7. Implementation Aspects (Inferred):**
* **Responsible Agency/Bodies:** The Securities and Exchange Board of India (SEBI) is the responsible agency for implementing and enforcing these amendments. The depositories are also responsible for collecting and forwarding fees from the participants.
* **Timelines and Procedures:** The amendments came into force on the date of their publication in the Official Gazette (May 5, 2021). The recurring fees must be paid one month before the expiry of the existing block period. The procedure involves using the "SEBI payment gateway" for online payment.
**8. Expected Outcomes / Impact of Changes:**
The expected outcomes of these changes include:
* **Streamlined Fee Payment Process:** The standardized online payment gateway should simplify the fee payment process for regulated entities.
* **Improved Transparency and Tracking:** The online system should enhance transparency and allow SEBI to more effectively track and manage fee collections.
* **Reduced Administrative Burden:** The automated payment process may reduce the administrative burden for both SEBI and the regulated entities.
* **Ensured Timely Payments:** The regulation that recurring fees must be paid one month before the expiry of the existing block period ensures timely payments.
**9. Conclusion:**
The SEBI Payment of Fees and Mode of Payment Amendment Regulations, 2021, represent a significant step towards standardizing and streamlining fee payment processes for various entities regulated by SEBI. By mandating the use of the SEBI payment gateway, the amendments are expected to improve efficiency, transparency, and compliance in fee collection, benefiting both SEBI and the regulated entities.
Key Entities Referenced
Securities and Exchange Board of India: Regulatory body in India for securities and commodity market.
Securities and Exchange Board of India Act, 1992: The Act of the Parliament of India that established the Securities and Exchange Board of India (SEBI).
Depositories Act, 1996: An act to provide for the establishment of depositories with the objective of ensuring free transferability of securities with speed, accuracy and security by making use of improved system of technology.
Securities and Exchange Board of India Payment of Fees and Mode of Payment Amendment Regulations, 2021: Regulations pertaining to the payment of fees to the Securities and Exchange Board of India.
Securities and Exchange Board of India Stock Brokers Regulations, 1992: Regulations governing stock brokers in India.
Securities and Exchange Board of India Merchant Bankers Regulations, 1992: Regulations governing merchant bankers in India.
Securities and Exchange Board of India Registrars to an Issue and Share Transfer Agents, 1993: Regulations governing registrars to an issue and share transfer agents in India.
Securities and Exchange Board of India Debenture Trustees Regulations, 1993: Regulations governing debenture trustees in India.
Securities and Exchange Board of India Bankers to an Issue Regulations, 1994: Regulations governing bankers to an issue in India.
Securities and Exchange Board of India Credit Rating Agencies Regulations, 1999: Regulations governing credit rating agencies in India.
Securities and Exchange Board of India Depositories and Participants Regulations, 2018: Regulations governing depositories and participants in India.
Mumbai: City in Maharashtra, India, where the notification was issued.
Ajay Tyagi: Chairman of the Securities and Exchange Board of India.
New Delhi: City in Delhi, India. Place of publication.
Mayapuri, New Delhi: Area in Delhi, India. Place of publication.
Delhi: Union Territory in India. Place of publication.
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99
xxxGIDHxxx
सी.जी.-एम.एxचxx.G-अID.E-0xx6x0 52021-226877
CG-MH-E-06052021-226877
ऄसाधारण
EXTRAORDINARY
भाग III—खण् ड 4
PART III—Section 4
प्राजधकार स ेप्रकाजित
PUBLISHED BY AUTHORITY
स.ं 188] नइ ददल्ली, बधु िार, मइ 5, 2021/ििै ाख 15, 1943
No. 188] NEW DELHI, WEDNESDAY, MAY 5, 2021/VAISAKHA 15, 1943
भारतीय प्रजतभजू त और जिजनमय बोडड
ऄजधसचू ना
मुम्बइ, 5 मइ, 2021
भारतीय प्रजतभजू त और जिजनमय बोडड
(फीस का भगु तान और भगु तान का माध्यम) (सिं ोधन) जिजनयम, 2021
स.ं सेबी/एलएडी-एनअरओ/िीएन/2021/23.—बोडड, भारतीय प्रजतभूजत और जिजनमय बोड ड ऄजधजनयम, 1992
(1992 का 15) की धारा 30 तथा जनक्षेपागार ऄजधजनयम, 1996 (1996 का 22) की धारा 25 द्वारा प्रदत्त िजियों का
प्रयोग करत े हुए एतद्द्वारा भारतीय प्रजतभूजत और जिजनमय बोडड (स्ट्टॉक दलाल) जिजनयम, 1992, भारतीय प्रजतभूजत और
जिजनमय बोडड (मचेंट बैंककार) जिजनयम, 1992, भारतीय प्रजतभूजत और जिजनमय बोड ड (जनगडम रजिस्ट्रार और िेयर ऄतं रण
ऄजभकताड) जिजनयम, 1993, भारतीय प्रजतभूजत और जिजनमय बोडड (जडबेंचर न्यासी) जिजनयम, 1993, भारतीय प्रजतभूजत
और जिजनमय बोड ड (जनगडमन बैंककार) जिजनयम, 1994, भारतीय प्रजतभूजत और जिजनमय बोडड (साख जनधाडरण एिेंजसयााँ)
जिजनयम, 1999 तथा भारतीय प्रजतभूजत और जिजनमय बोड ड (जनक्षेपागार और सहभागी) जिजनयम, 2018 का और संिोधन
करन े के जलए जनम्नजलजखत जिजनयम बनाता ह,ै ऄथाडत:् -
2501 GI/2021 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
1. आन जिजनयमों को भारतीय प्रजतभूजत और जिजनमय बोड ड (फीस का भुगतान और भगु तान का माध्यम) (संिोधन)
जिजनयम, 2021 कहा िा सकेगा ।
2. ि े रािपत्र में ईनके प्रकािन की तारीख को प्रिृत्त (लाग)ू होंगे ।
भारतीय प्रजतभजू त और जिजनमय बोडड (स्ट्टॉक दलाल) जिजनयम, 1992 म ेंसिं ोधन
3. भारतीय प्रजतभूजत और जिजनमय बोडड (स्ट्टॉक दलाल) जिजनयम, 1992 में, -
I. ऄनुसूची-V में, भाग-ख में, खडं 4ख जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ऄथाडत,् -
“4ख. खंड 4क म ें फीस अिेदक द्वारा, ऑनलाआन भारतीय प्रजतभूजत और जिजनमय बोड ड
( ) के पेमेंट गेटि ेका आस्ट्तेमाल करते हुए, बैंक खाते म ें सीधे िमा करके ऄदा की िाएगी ।”
II. ऄनुसूची-V में, भाग-ग म,ें खंड 6 जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ऄथाडत,् -
“6. िो स्ट्टॉक दलाल ( ) समािोधन सदस्ट्य (क्लीयररग मेंबर) / स्ट्ि-समािोधन सदस्ट्य (सेल्फ-
क्लीयररग मेंबर) के रूप में भी कायड करता , िह उपर खडं 3 प्रत्येक श्रेणी के जलए
िार्षिक फीस ऄलग-ऄलग, ऑनलाआन भारतीय प्रजतभूजत और जिजनमय बोडड ( ) के पेमेंट
गेटिे का आस्ट्तेमाल करत े हुए, बकैं खाते में सीध े िमा करके ऄदा करेगा ।”
भारतीय प्रजतभजू त और जिजनमय बोडड (मचटें बकैं कार) जिजनयम, 1992
4. भारतीय प्रजतभूजत और जिजनमय बोडड (मचेंट बैंककार) जिजनयम, 1992 , -
I. ऄनुसूची-2 , 3 में, ईप-खंड (ख) जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ,-
“(ख) परै ा 2 म ें ईजल्लजखत फीस मचेंट बैंककार (मचेंट बैंकर) द्वारा ईस ब्लॉक के समाप्त होने स े एक
महीने ऄदा की िाएगी, जिस ब्लॉक के जलए फीस ऄदा की िा चुकी हो ।”
II. ऄनुसूची-2 , 4 जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ,-
“4. पैरा 1, 2 एिं 3क म ें ईजल्लजखत फीस मचेंट बैंककार (मचेंट बैंकर) द्वारा, ऑनलाआन भारतीय
प्रजतभूजत और जिजनमय बोड ड ( ) के पेमेंट गेटिे का आस्ट्तेमाल करते हुए, बैंक खाते में सीध े िमा करके
ऄदा की िाएगी ।”
भारतीय प्रजतभजू त और जिजनमय बोडड (जडबचें र न्यासी) जिजनयम, 1993 म ेंसिं ोधन
5. भारतीय प्रजतभूजत और जिजनमय बोडड (जडबेंचर न्यासी) जिजनयम, 1993 में,-
I. ऄनुसूची-II में, खडं 3 में, ईप-खंड (ख) जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ,-
“(ख) पैरा 2 में ईजल्लजखत फीस जडबेंचर न्यासी (जडबेंचर रस्ट्टी) द्वारा ईस ब्लॉक के समाप्त होने से एक
महीने ऄदा की िाएगी, जिस ब्लॉक के जलए फीस ऄदा की िा चुकी हो ।”
II. ऄनुसूची-II म,ें खडं 4 जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ,-
“4. पैरा 1, 2 एिं 3क में ईजल्लजखत फीस जडबेंचर न्यासी (जडबेंचर रस्ट्टी) द्वारा, ऑनलाआन भारतीय
प्रजतभूजत और जिजनमय बोड ड ( ) के पेमेंट गेटिे का आस्ट्तेमाल करते हुए, बैंक खाते में सीध े िमा करके
ऄदा की िाएगी ।”[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 3
भारतीय प्रजतभजू त और जिजनमय बोडड (जनगमड रजिस्ट्रार और िये र ऄतं रण ऄजभकता)ड जिजनयम, 1993
6. भारतीय प्रजतभूजत और जिजनमय बोडड (जनगडम रजिस्ट्रार और िेयर ऄंतरण ऄजभकताड) जिजनयम, 1993 , -
I. ऄनुसूची-II में, खडं 2 में, ईप-खंड (ख) जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ऄथाडत,्-
“(ख) परै ा 1कक म ें ईजल्लजखत फीस जनगडम रजिस्ट्रार और िेयर ऄंतरण ऄजभकताड (रजिस्ट्रार टू एन आश्य ू
एंड िेयर रांसफर एिेंट) द्वारा ईस ब्लॉक के समाप्त होने स े एक महीने ऄदा की िाएगी, जिस
ब्लॉक के जलए फीस ऄदा की िा चुकी हो ।”
II. ऄनुसूची II में, खडं 3 जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ऄथाडत्,-
“3. पैरा 1, 1कक एिं 2क म ें ईजल्लजखत फीस जनगडम रजिस्ट्रार और िेयर ऄंतरण ऄजभकताड द्वारा,
ऑनलाआन भारतीय प्रजतभूजत और जिजनमय बोड ड ( ) के पेमेंट गेटि े का आस्ट्तेमाल करते हुए, बैंक
खाते में सीधे िमा करके ऄदा की िाएगी ।”
भारतीय प्रजतभजू त और जिजनमय बोडड (जनगमड न बकैं कार) जिजनयम, 1994 म ेंसिं ोधन
7. भारतीय प्रजतभूजत और जिजनमय बोडड (जनगडमन बैंककार) जिजनयम, 1994 में,-
I. ऄनुसूची-II में, खडं 3 में, ईप-खंड (ख) जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ऄथाडत,्-
“(ख) पैरा 2 में ईजल्लजखत फीस जनगडमन बैंककार (बैंकसड टू एन आश्य)ू द्वारा ईस ब्लॉक के समाप्त होने स े
एक महीने ऄदा की िाएगी, जिस ब्लॉक के जलए फीस ऄदा की िा चुकी हो ।”
II. ऄनुसूची-II में, खडं 4 जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ऄथाडत्,-
“4. पैरा 1, 2 एिं 3क में ईजल्लजखत फीस जनगडमन बैंककार (बैंकसड टू एन आश्यू) द्वारा, ऑनलाआन
भारतीय प्रजतभूजत और जिजनमय बोड ड ( ) के पेमेंट गेटि े का आस्ट्तेमाल करत े हुए, बैंक खाते म ें सीधे
िमा करके ऄदा की िाएगी ।”
भारतीय प्रजतभजू त और जिजनमय बोडड (साख जनधारड ण एिजें सया)ाँ जिजनयम, 1999 म ेंसिं ोधन
8. भारतीय प्रजतभूजत और जिजनमय बोडड (साख जनधाडरण एिेंजसयााँ) जिजनयम, 1999 में,-
I. दसू री ऄनसु चू ी में, भाग-ख में, खंड 4 जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ऄथातड ्,-
“4. उपर ईजल्लजखत फीस ऑनलाआन भारतीय प्रजतभूजत और जिजनमय बोडड ( ) के पेमेंट गेटिे का
आस्ट्तेमाल करत े हुए बैंक खाते म ेंसीधे िमा करके ऄदा की िाएगी ।”
II. दसू री ऄनसु चू ी में, भाग-ख में, खंड 4 के पश्चात् जनम्नजलजखत ऄंतःस्ट्थाजपत दकया िाएगा, ऄथाडत्,-
“5. भाग-क की मद स.ं 4 के रजिस्ट्रीकरण फीस (अिती / ) [िो प्रत्येक तीन ििों म ें
ऄदा की िानी ह]ै साख जनधाडरण एिेंसी (क्रेजडट रेरटग एिेंसी) द्वारा ईस ब्लॉक के समाप्त होने से एक
महीने ऄदा की िाएगी, जिस ब्लॉक के जलए फीस ऄदा की िा चुकी हो ।”
भारतीय प्रजतभजू त और जिजनमय बोडड (जनक्षपे ागार और सहभागी) जिजनयम, 2018 म ेंसिं ोधन
9. भारतीय प्रजतभूजत और जिजनमय बोडड (जनक्षेपागार और सहभागी) जिजनयम, 2018 में,-
I. जिजनयम 36 में, ईप-जिजनयम (6) जनम्नजलजखत से प्रजतस्ट्थाजपत हो िाएगा, ऄथाडत्, -
“(6) ईप-जिजनयम (5) में फीस ईस ब्लॉक के समाप्त होने से एक महीन े ऄदा की
िाएगी, जिस ब्लॉक के जलए फीस ऄदा की िा चुकी हो।”4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
II. दसू री ऄनुसूची म,ें भाग-ख में, सहभागी ( ) द्वारा ऄदा की िान े िाली फीस के जलए
जनम्नजलजखत प्रजतस्ट्थाजपत हो िाएगा, ऄथाडत,् -
“फीस दकसके द्वारा ऄदा की िानी ह ै भुगतान का तरीका
सहभागी ( ) फीस ईस जनक्षेपागार (जडपॉज़िटरी) को ऄदा की
िाएगी, ऄदा करन े िाला
सहभागी हो । जनक्षेपागार ( ),
सहभाजगयों से ली गइ फीस बोडड के पास,
ऑनलाआ भारतीय प्रजतभूजत और जिजनमय
बोडड ( ) के पेमेंट गेटि े का आस्ट्तेमाल करत े हुए,
बैंक खाते में सीधे िमा करके ऄग्रेजित करेगा ।”
ऄिय त्यागी, ऄध्यक्ष
[जिज्ञापन III /4/ऄ.सा./56/2021]
SECURITIES AND EXCHANGE BOARD OF INDIA
NOTIFICATION
Mumbai, the 5th May, 2021
SECURITIES AND EXCHANGE BOARD OF INDIA
(PAYMENT OF FEES AND MODE OF PAYMENT) (AMENDMENT) REGULATIONS, 2021
No. SEBI/LAD-NRO/GN/2021/23.─In exercise of the powers conferred by section 30 of the
Securities and Exchange Board of India Act, 1992 (15 of 1992) and section 25 of the Depositories Act,
1996 (22 of 1996), the Board hereby makes the following Regulations to further amend the Securities and
Exchange Board of India (Stock Brokers) Regulations, 1992, Securities and Exchange Board of India
(Merchant Bankers) Regulations, 1992, Securities and Exchange Board of India (Registrars to an Issue
and Share Transfer Agents), 1993, Securities and Exchange Board of India (Debenture Trustees)
Regulations, 1993, Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994,
Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 and Securities and
Exchange Board of India (Depositories and Participants) Regulations, 2018, namely: –
1. These regulations may be called the Securities and Exchange Board of India (Payment of Fees and
Mode of Payment) (Amendment) Regulations, 2021.
2. They shall come into force on the date of their publication in the Official Gazette.
Amendments to the Securities and Exchange Board of India (Stock Brokers) Regulations,
1992
3. In the Securities and Exchange Board of India (Stock Brokers) Regulations, 1992, –
I. In Schedule V, in Part B, clause 4B shall be substituted by the following, namely-[भाग III—खण् ड 4] भारत का रािपत्र : ऄसाधारण 5
―4B. The fee specified in clause 4A shall be payable by the applicant by way of direct credit in
the bank account through online payment using SEBI payment gateway.‖
II. In Schedule V, in Part C, clause 6 shall be substituted by the following, namely-
―6. A stock broker who also acts as a clearing member/ self-clearing member shall pay the
annual fee separately, as applicable to each category as specified in clause 3, by way of direct
credit in the bank account through online payment using SEBI payment gateway.‖
Amendments to the Securities and Exchange Board of India (Merchant Bankers)
Regulations, 1992
4. In the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992,–
I. In Schedule II, in clause 3, sub-clause (b) shall be substituted by the following, namely-
―(b) The fee referred to in paragraph 2 shall be paid by the merchant banker one month before
the expiry of the block for which the fee has been paid.‖
II. In Schedule II, clause 4 shall be substituted by the following, namely-
―4. The fee specified in paragraphs 1, 2 and 3A shall be payable by the merchant banker by
way of direct credit in the bank account through online payment using SEBI payment
gateway.‖
Amendments to the Securities and Exchange Board of India (Debenture Trustees)
Regulations, 1993
5. In the Securities and Exchange Board of India (Debenture Trustees) Regulations, 1993-
I. In Schedule II, in clause 3, sub-clause (b) shall be substituted by the following namely-
―(b) The fee referred to in paragraph 2 shall be paid by the Debenture Trustee one month
before the expiry of the block for which the fee has been paid.‖
II. In Schedule II, clause 4 shall be substituted by the following namely-
―4. The fee specified in paragraphs 1, 2 and 3A shall be payable by the Debenture Trustee by
way of direct credit in the bank account through online payment using SEBI payment
gateway.‖
Amendments to the Securities and Exchange Board of India (Registrars to an Issue and
Share Transfer Agents) Regulations, 1993
6. In the Securities and Exchange Board of India (Registrars to an Issue and Share Transfer
Agents), 1993-
I. In Schedule II, in clause 2, sub-clause (b) shall be substituted by the following namely-
―(b) The fee referred to in paragraph 1AA shall be paid by the Registrar to an issue and Share
Transfer Agent one month before the expiry of the block for the which fee has been paid.‖
II. In Schedule II, clause 3 shall be substituted by the following namely-
―3. The fee specified in paragraphs 1, 1AA and 2A shall be payable by the Registrar to an Issue
and Share Transfer Agent by way of direct credit in the bank account through online payment
using SEBI payment gateway.‖
Amendments to the Securities and Exchange Board of India (Bankers to an Issue)
Regulations, 19946 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4]
7. In the Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994-
I. In Schedule II, in clause 3, sub-clause (b) shall be substituted by the following namely-
“ (b) The fee referred to in paragraph 2 shall be paid by the banker to an issue one month
before the expiry of the block for which the fee has been paid.‖
II. In Schedule II, clause 4 shall be substituted by the following namely-
―4. The fee specified in paragraphs 1, 2 and 3A shall be payable by bankers to an issue by way
of direct credit in the bank account through online payment using SEBI payment gateway.‖
Amendments to the Securities and Exchange Board of India (Credit Rating Agencies)
Regulations, 1999
8. In the Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999-
I. In Second Schedule, in Part B, clause 4 shall be substituted by the following namely-
“4. The fee specified above shall be paid by way of direct credit in the bank account through
online payment using SEBI payment gateway.‖
II. In Second Schedule, in Part B, after clause 4 the following shall be inserted namely-
―5. The (recurring) registration fee payable every three years as specified under item no. 4 of
Part A, shall be paid by the credit rating agency one month before the expiry of the block for
which the fee has been paid.‖
Amendments to the Securities and Exchange Board of India (Depositories and Participants)
Regulations, 2018
9. In the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018,–
I. In regulation 36, sub-regulation (6) shall be substituted by the following, namely-
―(6) The fee specified in sub-regulation (5) shall be paid one month prior to the expiry of the
block for which the fee has been paid.‖
II. In Second Schedule, in Part B, for the fee to be paid by the Participant, the following shall be
substituted namely-
________________________________________________________________________________
“Fees to be paid by Manner of Payment
Participant Fees to be paid to the depository in which the
payer is a Participant. The Depository shall
forward the fees collected from participants to the
Board, by way of direct credit in the bank account
through online payment using SEBI payment
gateway.‖
________________________________________________________________________________
AJAY TYAGI, Chairman
[ADVT. III/4/Exty./56/2021
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.