Broker fee structure ties registration fees to annual turnover and prescribes computation, payment timing and penalty for delay.

Registration fees for stock brokers are turnover-linked with special computation rules for various transaction types, exclusions for certain activities, and periodic retention charges; payments must be made annually by prescribed dates with turnover authenticated by the exchange or a qualified auditor, conversion of membership to corporate form can be treated as a continuation for fee purposes subject to shareholding and directorship conditions, specified subsidiary sub-broker turnover may be excluded where fees have been paid on the parent exchange, and late payment attracts monthly interest and potential regulatory action.

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