The Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 2006

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....ations, 2006. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, Schedule IV shall be substituted with the following, namely:-- "SCHEDULE IV Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 [Regulation 24A] 1. There shall be charged on every draft offer document submitted by a merchant banker to the Board, a fee at the following rates: I. For a period of one year from the commencement of the Securities and Exchange Board of India (Merchant Bankers) (Second Amendment) Regulations, 2006 A. Public Issues Size of the issue, including intended retention of over subscript....

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....fees under clause 1 shall be paid by the merchant banker to the Board while submitting the draft offer document under regulation 24. 3. In a case where the issue size is not determined at the time of submission of the draft offer document, the merchant banker may pay fees under clause 1 based on the estimated issue size. 4. If the issue size estimated by the merchant banker differs from eventual issue size and thereby-- (a) the fees paid by the merchant banker is found to be deficient, the balance fee shall be paid by the merchant banker within seven days of filing the final prospectus with the Registrar of Companies under Section 60 of the Companies Act, 1956; or (b) any excess fee is found to have been paid, it shall be refund....