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Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 1999 - S.O. No.798(E) - SEBI/LE/18735/99 - SEBIExtract SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 30th September, 1999 S.O. 798(E).- 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), the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993, as follows: 1. (i) These regulations may be called the Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 1999 (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In Schedule II, for paragraphs 1, 2, 3 and 4, the following paragraphs shall be substituted, namely: 1. Every portfolio manager shall pay a sum of Rupees five lacs as registration fees at the time of the grant of certificate by the Board. 2. Every portfolio manager to keep registration in force shall pay renewal fee of Rs. 2.5 lacs every three years from the fourth year from the date of initial registration. 3. (a) The fee referred to in paragraph 1 shall be paid by the portfolio manager within fifteen days from the date of receipt of intimation from the Board under regulation 8. (b) The fee referred to in paragraph 2, shall be paid by the portfolio manager within fifteen days from the date of receipt of intimation from the Board disposing of the application for renewal made under sub-regulation (1) of regulation 9. 4. The fees specified in paragraphs 1 and 2 shall be payable by the portfolio manager by a demand draft in favour of Securities and Exchange Board of India payable at Mumbai or at the respective regional office. [F. No. SEBI/LE/18735/99] D. R. MEHTA, Chairman Footnote : 1. Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993 the principal regulation was published in the Gazette of India on January 7, 1993 vide No. SEBI/LE/92/111. 2. It was subsequently amended - (a) on November 28, 1995 by the Securities and Exchange Board of India (Payment of Fees) (Amendment) Regulations, 1995 vide S.O. No. 939 (E). (b) on January 5, 1998 by the Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 1998 vide S.O. No. 20 (E).
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