https://www.taxtmi.com/circulars?id=62018 Exemption allows newly formed or recommencing exchanges to disregard specified prior limits on LES during their first five years, provided yearly LES incentives do not exceed a prescribed share of audited net-worth, a dedicated LES reserve is maintained (excluded from net-worth calculation), and minimum net-worth requirements under securities regulations continue to be satisfied; exchanges must amend bye-laws, notify brokers, publish the circular, and report implementation to the regulator. en-us Fri, 26 Jul 2019 00:00:00 +0530 Tue, 30 Jul 2019 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62018 Exemption allows newly formed or recommencing exchanges to disregard specified prior limits on LES during their first five years, provided yearly LES incentives do not exceed a prescribed share of audited net-worth, a dedicated LES reserve is maintained (excluded from net-worth calculation), and minimum net-worth requirements under securities regulations continue to be satisfied; exchanges must amend bye-laws, notify brokers, publish the circular, and report implementation to the regulator. Circulars SEBI Fri, 26 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62018