Digital mode of payment
Summary
SEBI has notified regulations to enable digital mode payments for fees and penalties by registered intermediaries. Intermediaries are required to provide specific payment details to SEBI via email after making such direct credits. This circular is issued under Section 11(1) of the SEBI Act, 1992 to regulate securities markets.
Text
SEBI has notified the SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017 on March 06, 2017 to enable digital mode of payment (RTGS/NEFT/IMPS etc.) of fees/penalties/remittance/other payments etc.
In order to identify and account such direct credit in the SEBI account, it has been decided that the various intermediaries / other entities shall provide the information as mentioned in Annexure –I to SEBI once the payment is made.
The above information should be emailed to the respective department(s) as well as to Treasury & Accounts division at tad@sebi.gov.in.
This circular is issued in exercise of powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities markets.
Source: SecMarx — Digital mode of payment. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.