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CS Executive · Capital Market and Securities Laws · Securities Market Intermediaries

Under Section 12(2) of the SEBI Act, how are the manner of making an application for registration as a share transfer agent and the fee payable for it determined?

The manner of application and the fees are determined by regulations under the SEBI Act. Section 12(2) says every application for registration must follow the manner and fee set by regulations, not by stock exchange circulars, the applicant's articles or negotiation.

  1. ABy the regulations made under the ActCorrect
  2. BBy the circular of the concerned stock exchange
  3. CBy the articles of association of the applicant
  4. DBy negotiation between the applicant and SEBI's chairman

Explanation

Section 12(2) states that every application for registration shall be in such manner and on payment of such fees as may be determined by regulations. Stock exchanges, the applicant's articles or negotiation have no role in fixing these.

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