TMI BlogFEES PAYABLE BY STOCK BROKERSX X X X Extracts X X X X X X X X Extracts X X X X ..... Committee. A circular clarifying various issues raised in the representations received from brokers in their individual and representative capacities was issued on March 28, 2002. Some further issues involving methodology of computation for purpose of levy of turnover fees on certain type of transactions such as compulsory carry forward transactions, reversal transactions pertaining to institutional trades routed through the custodians as also the methodology for computation of fees for the years for which turnover data is not available with the Exchange etc. which were represented by the Exchanges as well as the brokers in their individual as well as representative capacities were examined by SEBI. The said issues are clarified a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the members for immediate succeeding two financial years for which total turnover figures for the entire financial year is available with the Exchange has been furnished. FEE CONTINUITY BENEFIT WHERE THE ERSTWHILE INDIVIDUAL/ PARTNER DIES PRIOR TO COMPLETION OF THREE YEAR PERIOD FROM CONVERSION OF MEMBERSHIP the erstwhile individual/ partner (member partners in case of Exchanges which admit members as partners but do not admit partnership firms as members of the Exchange) was satisfying the conditions laid down in clause 4 of part I of Schedule III above, till his/ her death and the legal heirs of such whole time directors of corporate members satisfy the above conditions till the completion of the remaining period. TRANS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ualify for concessional rate of fees.The Exchange/ auditor would have to additionally certify in Annex-C/ Annex-A of circular dated March 28, 2002 respectively to the effect that turnover shown under the category of PSU bonds/ Government securities is in conformity with the definition of PSU bonds given as above. The revised auditors certificate format and revised format of Exchange certification is enclosed. All Exchanges are advised to forward the turnover details in conformity with the revised certification format and also bring the revised auditors certification format to the notice of members. Yours faithfully, P.K.BINDLISH Encl : a.a. REVISED FORMAT OF AUDITORS CERTIFICATE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.crore Rs.crore Rs.crore Rs.crore ..... X X X X Extracts X X X X X X X X Extracts X X X X
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