Email : pkb@sebi.gov.in
SEBI/SMD/SE/25/2003/ 19 /06
June 19, 2003
The Executive Director / Managing Director
All Stock Exchanges
Dear Sir / Madam,
Sub: Listing Fees.
SEBI, vide its circular no. SMDRP/CIR-14/98
dated April 29, 1998 had prescribed that the Stock Exchanges
shall fix the quantum of listing fees after obtaining
approval from SEBI. It has now been decided that the stock
exchanges will have the freedom to charge listing fees without
seeking approval of SEBI.
Accordingly, the exchanges are directed to make
necessary amendments to the bye-laws, rules and
regulations/listing agreement in order to incorporate
the specific provisions regarding the same.
This circular is being issued in exercise of the
powers conferred by Section 11 (1) of Securities and Exchange
Board of India Act, 1992, read with Section 10 of the
Securities Contracts (Regulation) Act, 1956, to protect the
interest of investors in securities and to promote the
development of, and to regulate, the securities market.
The exchanges are directed to bring the
provisions of this circular to the notice of the companies
listed on the exchange, the member brokers/clearing
members of the exchange and also to disseminate the same
on the website for easy access to the investors.
The exchanges are also directed to
communicate to SEBI, the status of the implementation of the
provisions of this circular in Section II, item no. 13 of the
Monthly Development Report for the month of June 2003.
Yours faithfully,
P.K. BINDLISH
