The Securities and Exchange Board of India (SEBI) on May 10, 2024, issued the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Second Amendment) Regulations, 2024, to further amend the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018.
The following provisions have been stated:
• In Regulation 11, which states “Regulatory fee”, sub-regulation (2) shall be substituted with the following sub-regulation, namely:
“(2) A recognised stock exchange shall pay to the Board, within fifteen days from the end of each month, the amount provided in Part–A of Schedule-III to these regulations on its annual turnover for the financial year till the end of that month, after adjusting any regulatory fee already paid in that financial year:
Explanation: For the purpose of this sub-regulation, the expression “annual turnover” shall mean the aggregate value of the transactions, excluding turnover on agricultural commodity derivatives, which took place on the recognised stock exchange during the relevant financial year:
Provided that the recognized stock exchanges shall also pay, within fifteen days from the end of the financial year, a flat regulatory fee of one lakh rupees on the aggregate value of the transactions on agricultural commodity derivatives.”
• In regulation 11, which states “Regulatory fee”, in sub-regulation (3):
o For the words “quarter of a financial year”, the word “month” shall be substituted.
o The word “quarter” appearing after the words “during that” shall be substituted with the word “month”.
o The proviso shall be omitted.
This notification will come into force from May 10, 2024.
[Notification No SEBI/LAD-NRO/GN/2024/174]
