Securities And Exchange Board Of India - Subsection
Section 9(6) in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
(6)On the grant of a certificate the applicant shall be liable to pay the fees for which the registration in accordance with Schedule II;Provided that the amount of fees payable shall be proportionately reduced by the amount of fees already paid by the merchant banker for the year in which the registration is granted in the higher category.
