CS Executive · Capital Market and Securities Laws · Securities Market Intermediaries
Under Section 12(2) of the SEBI Act, how are the manner of an application for registration as a stock-broker and the fee payable fixed?
The manner of application and the fee are determined by regulations. Section 12(2) of the SEBI Act states that every application for registration is made in the manner and with the fees set by regulations, not by exchange bye-laws or the Registrar of Companies.
- AAs determined by regulationsCorrect
- BBy the stock exchange bye-laws alone
- CBy the Central Government through an annual budget notification
- DBy the Registrar of Companies
Explanation
Section 12(2) says every application for registration shall be in such manner and on payment of such fees as may be determined by regulations. Neither exchange bye-laws nor the ROC fix this under the Act.
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