https://www.taxtmi.com/caselaws?id=307197 The exemption from registration fee under paragraph 4 of Schedule III applies only where an individual or partnership membership is genuinely converted into a corporate entity with the prescribed continuity conditions; a mere transfer of a membership card to an already existing company does not qualify. The statutory fee scheme also contemplates only one registration of a stock broker with the regulator, even if the broker holds memberships in multiple stock exchanges, so fee computation cannot be based on separate exchange-wise registrations. On that basis, multiple registrations were held impermissible and the fee was required to be recomputed from the original registration date. en-us Thu, 09 Aug 2007 00:00:00 +0530 Sat, 25 Mar 2023 12:40:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307197 The exemption from registration fee under paragraph 4 of Schedule III applies only where an individual or partnership membership is genuinely converted into a corporate entity with the prescribed continuity conditions; a mere transfer of a membership card to an already existing company does not qualify. The statutory fee scheme also contemplates only one registration of a stock broker with the regulator, even if the broker holds memberships in multiple stock exchanges, so fee computation cannot be based on separate exchange-wise registrations. On that basis, multiple registrations were held impermissible and the fee was required to be recomputed from the original registration date. Case-Laws SEBI Thu, 09 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307197