TaxTMI 
TaxTMI 
TaxTMI 
Securities And Exchange Board Of India (Merchant Bankers) (Amendment) Regulations, 2011
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....a (Merchant Bankers) (Amendment) Regulations, 2011. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In regulation 2, in clause (ab), after the words "certificate of" and before the words "registration issued by the Board" the words "initial or permanent" shall be inserted. 4. In regulation 3,- i. in the marginal note, after the word "certificate" the words "of initial registration" shall be inserted; ii. in sub-regulation (1), after the word "certificate" and before the words "shall be made" the words "of initial registration" shall be inserted. 5. Regulation 8 shall be substituted with the following, namely:- "8. Grant of certificate of initial registration. 1. The Board, on being satisfie....
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....rtificate of registration by the Board and has completed a period of five years, on the date of commencement of the Securities and Exchange Board of India (Merchant Bankers) (Amendment) Regulations, 2011, may, three months before the expiry of validity of certificate of registration or before, make an application for grant of a certificate of permanent registration in Form A. 3. An application under sub-regulation (1) or sub-regulation (2) shall be accompanied by a non-refundable application fee as specified in Schedule II of these regulations. 4. The application for grant of a certificate of permanent registration shall be accompanied by details of the changes that have taken place in the information that was submitted to the Board while....
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....enewal under regulation 9" shall be substituted with the words and figures "of initial registration under regulation 3 or of permanent registration under regulation 8A". ii. in sub-regulation (2), the word "registration" shall be substituted with the words "initial registration or permanent registration, as the case may be,". 11. Regulation 11 shall be substituted with the following, namely: - "11. Effect of refusal to grant certificate of permanent registration. Any applicant, whose application for grant of a certificate of permanent registration has been refused by the Board, on and from the date of receipt of the communication, shall not carry on any activity as a merchant banker: Provided that the Board may, in the interest of inve....
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....ribed under paragraph 2. 2. A merchant banker who has been granted a certificate of permanent registration, to keep its registration in force, shall pay a fee of five lakh rupees every three years from the sixth year from the date of grant of certificate of initial registration, or from completion of the period of renewed certificate of registration, as the case may be." ii. in paragraph 3,- a. after clause (a), a new clause shall be inserted, namely: - "(aa) The fee referred to in paragraph 1A shall be paid by the merchant banker three months before completion of the period of three years from the date of grant of certificate of initial registration, or within a period of three months from the date of notification of these regulations,....
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....(Merchant Bankers) Amendment Regulations, 1996 vide No. SEBI/LE/III/5/96. (d) December 15, 1997 by the Securities and Exchange Board of India (Merchant Bankers) Amendment Regulations, 1997 vide No. S.O. 837(E). (e) December 15, 1997 by the Securities and Exchange Board of India (Merchant Bankers) Amendment Regulations, 1997 vide No. 869(E). (f) January 21, 1998 by the Securities and Exchange Board of India (Merchant Bankers) Amendment Regulations, 1998 vide No. S.O. 74(E). (g) September 30, 1999 by the Securities and Exchange Board of India (Merchant Bankers) Amendment Regulations, 1999 vide No. S.O. 1119(E). (i) March 28, 2000 by the Securities and Exchange Board of India (Appeal to the Securities Appellate Tribunal) (Amendment) Regul....