ASSISTANT GENERAL MANAGER

MIRSD

MIRSD/FC/MK/AJS/101513/07             

August 16, 2007

 The Managing Director/Executive Director/Administrator

All Stock Exchanges

 Dear Sir/s,

Sub: Exercise of option under Schedule IIIA of SEBI (Stock Broker and Sub Broker) Regulations, 1992

This has reference to SEBI circular number MIRSD/DR-1/FC/Cir-15/2006 dated September 29, 2006 wherein the stock brokers were advised to exercise the option to shift to new fee structure as per the dates specified.  However, SEBI has been receiving requests from the brokers through stock exchanges to opt for the new fee structure since earlier due to oversight / clerical error, brokers could not apply within the specified time or have opted for the new fee structure at one stock exchange and failed to opt at the other etc.

In this connection, you are also advised to confirm once again to SEBI that all members. Wherever applicable, have exercised the option as per said SEBI circular.  In case any such requests are pending with you, you are advised to forward us the same along with your recommendations by August 31, 2007.  It is also being brought to your notice that SEBI may not be in a position to consider such type of claims in case the same are received after August 31, 2007

 Yours faithfully,

AVARJEET SINGH