Turnover fee computation clarified: auditor certification or successive years averaging determines fees; PSU bonds defined, mutual funds excluded. For years lacking authentic exchange turnover figures, audited total turnover in the prescribed format will be accepted; absent such certificate, the average total turnover of the immediate two succeeding financial years for which the exchange has full data will be used. Members using the averaging method are not eligible for concessional fee rates requiring certified break ups. Exchanges and auditors must use the revised certification formats and certify that turnover under PSU bonds/government securities conforms to the circular's PSU definition; mutual fund units are excluded from concessional treatment.
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Provisions expressly mentioned in the judgment/order text.
Turnover fee computation clarified: auditor certification or successive years averaging determines fees; PSU bonds defined, mutual funds excluded.
For years lacking authentic exchange turnover figures, audited total turnover in the prescribed format will be accepted; absent such certificate, the average total turnover of the immediate two succeeding financial years for which the exchange has full data will be used. Members using the averaging method are not eligible for concessional fee rates requiring certified break ups. Exchanges and auditors must use the revised certification formats and certify that turnover under PSU bonds/government securities conforms to the circular's PSU definition; mutual fund units are excluded from concessional treatment.
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