 OTC
EXCHANGE OF INDIA Ref.No:
2609/2003/CP/MDD/1235 November
6, 2003 Dear
Members/Dealers, Sub:
Payment of Registration Fees out of Security Deposit /
Base Minimum Capital with the Exchange SEBI vide their circular no. MIRSD/Reg-1/DT/20648/03
dated 31st October, 2003 have advised us to
inform the following to all Members/Dealers; Quote:
SEBI has been receiving representations from brokers
suggesting that they may be allowed to pay the registration
fees to SEBI out of the security deposit / base minimum
capital maintained by them with the Exchanges. The
representations have been examined. It is clarified that
SEBI has no objection to payment of registration fees out of
security deposit / base minimum capital, if the broker
authorizes the Exchange to do so.
Unquote
Hence,
in case you wish to pay your SEBI Registration fee dues from
the deposits, if any, maintained with the Exchange, you are
requested to send us an authorization letter for the same.
Kindly mention clearly the exact amount (principal dues and
interest thereof) to be remitted to SEBI
Kindly
take a note of the above. Yours
faithfully, Ajay
C. Singhvi Asst. Vice President
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