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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Regulation 12 Exempts Certified Stock Brokers from Underwriter Fees; Non-payment Can Lead to Certificate Suspension</h1> Regulation 12 of the Securities and Exchange Board of India (Underwriters) Regulations, 1993 mandates that eligible applicants must pay fees as specified in Schedule II. However, stock brokers with a certificate under section 12 of the Act and who pay fees under the SEBI (Stock Brokers and Sub-brokers) Regulations, 1992 are exempt from this requirement. If an underwriter fails to pay the required fees, the Board may suspend their certificate, effectively prohibiting them from acting as an underwriter. Amendments over the years have modified the specific wording and conditions of these provisions.
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