Securities and Exchange Board of India (Buy-Back of Securities) (Amendment) Regulations, 2007
No.11/LC/GN/2007 - In exercise of powers conferred by sub-section
(1) of section 30 of the Securities and Exchange Board of
India Act, 1992 (15 of 1992) read with clause (f) of sub-section
(2) of Section 77A of the Companies Act, 1956 (1 of 1956)
the Board hereby makes the following regulations to amend
the Securities and Exchange Board of India (Buy-Back of Securities)
Regulations, 1998, namely:-
1. These Regulations may be called the Securities and Exchange
Board of India (Buy-Back of Securities) (Amendment) Regulations,
2007.
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 (Buy-Back
of Securities) Regulations, 1998, in Schedule IV, for paragraph
(1), the following paragraph shall be substituted, namely:-
“(1). Every merchant banker shall while submitting the
offer document or a copy of the public announcement to the
Board, pay fees as set out below:-
Offer size Fee (Rs.)
Less than or equal to one crore rupees. One lakh rupees (Rs.
1,00,000/-).
More than one crore rupees, but less than or equal to five
crore rupees. Two lakh rupees (Rs. 2,00,000/-).
More than five crore rupees, but less than or equal to ten
crore rupees. Three lakh rupees (Rs. 3,00,000/-).
More than ten crore rupees, but less than or equal to one
thousand crore rupees. 0.5% of the offer size.
More than one thousand crore rupees, but less than or equal
to five thousand crore rupees. Five crore rupees (Rs. 5,00,00,000/-)
plus 0.125% of the portion of the offer size in excess of
one thousand crore rupees (Rs.1000,00,00,000/-).
More than five thousand crore rupees. Ten crore rupees (Rs.10,00,00,000/-).”
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