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of <h1>Stock broker fee payment year definition u/reg 45-financial year fixed as 1 April to 31 March</h1> Regulation 45 prescribes that, for the purposes of fee payment obligations applicable to stock brokers, clearing members, and self-clearing members under SEBI (Stock Brokers) Regulations, 2026, 'financial year' means the period commencing on 1 April and ending on 31 March of the following year. This definition standardises the annual reference period for computing, assessing, and timing fees and related compliance on a uniform April-March basis.
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