https://www.taxtmi.com/caselaws?id=110239 A regulatory circular requiring separate registration fee for each SEBI registration held by a stock broker was upheld as intra vires the governing regulations. The court construed the SEBI Act, the Stock Brokers and Sub-Brokers Rules, and the registration and fee provisions to permit registration-linked supervision for each stock exchange membership and to allow the regulator to prescribe the mode of fee computation. The earlier Supreme Court ruling recognising annual turnover as only a measure of levy was treated as decisive. On that basis, the challenge to treating multiple registrations as fee-bearing units failed, and the clarification on fee liability was sustained. en-us Tue, 26 Oct 2004 00:00:00 +0530 Sat, 14 Apr 2012 13:10:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110239 A regulatory circular requiring separate registration fee for each SEBI registration held by a stock broker was upheld as intra vires the governing regulations. The court construed the SEBI Act, the Stock Brokers and Sub-Brokers Rules, and the registration and fee provisions to permit registration-linked supervision for each stock exchange membership and to allow the regulator to prescribe the mode of fee computation. The earlier Supreme Court ruling recognising annual turnover as only a measure of levy was treated as decisive. On that basis, the challenge to treating multiple registrations as fee-bearing units failed, and the clarification on fee liability was sustained. Case-Laws Companies Law Tue, 26 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110239