Merchant banker fee obligation: submit stipulated fees when filing buyback offer documents, payment must accompany the draft submission. Merchant bankers must pay prescribed fees when submitting an offer document or copy of a public announcement for a securities buyback. Fees are set in tiered bands according to offer size and must be paid along with the draft submission. Payment is to be made by electronic transfer or by draft in favour of the regulator, in the manner specified in the schedule. The schedule also reflects amendments to fee rates and permitted payment modes.