Merchant banker registration regime: introduction of initial and permanent registrations with new application and fee rules. The Regulations establish a two-stage registration regime distinguishing initial registration (valid five years) and permanent registration. Existing registrants with fewer than three years completed are deemed to hold initial registration for five years subject to pro rata fee payment. Applications for permanent registration must be made three months before expiry, include a non refundable fee, updated disclosures, and are processed as fresh initial applications; grant of permanent registration attracts fees under Schedule II and ongoing triennial fees from the sixth year.
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Merchant banker registration regime: introduction of initial and permanent registrations with new application and fee rules.
The Regulations establish a two-stage registration regime distinguishing initial registration (valid five years) and permanent registration. Existing registrants with fewer than three years completed are deemed to hold initial registration for five years subject to pro rata fee payment. Applications for permanent registration must be made three months before expiry, include a non refundable fee, updated disclosures, and are processed as fresh initial applications; grant of permanent registration attracts fees under Schedule II and ongoing triennial fees from the sixth year.
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