RegAlert

Rule · BSEC · 30 Jun 2010

Notification related to annual BO account maintenance fee

securities

The Securities and Exchange Commission amends Schedule 4 of the Depository (Practical) Rules, 2003, to set the annual maintenance fee for Depository Participant (DP) accounts at 500 Taka. This fee includes a 250 Taka commission payable to the Depository, of which 200 Taka must be deposited into the Government Treasury. The fee applies to each investor in a participating DP or account holder, is payable in advance, and mandates the suspension of accounts lacking securities or failure to pay the fee.

BangladeshBangladesh Securities and Exchange Commission

NOTIFICATION
June 30, 2010
No. SEC/CMRRCDI/2009-193/45/Admin------

Under the powers conferred by Section 17(2) of the Depositories Act, 1999 (Act No. 6 of 1999), the Securities and Exchange Commission, in consultation with the Government, has made the following amendments to the Depository (Practical) Rules, 2003, namely:

  1. Column 3 (Fee Rate) of Serial No. 3 of Schedule 4 (Services Provided by Depository) of the Fee shall be replaced as follows:
Serial No.Fee HeadFee RateMinimum Fee (in Taka)Basis for Determination of FeeWhen Payable
3.Monthly Account Maintenance FeeAnnual 500/- Taka per Depository (BO) AccountAmong this, 250/- Taka per Depository (BO) Account shall be paid to the Depository as commission. Out of the said 250/- Taka, 200/- Taka shall be deposited into the Government Treasury.Participating Entity / Account Holder / Joint (including Nominee); Each investor in the account.; Monthly Advance (Monthly Account Maintenance Fee); ; To ensure payment of Monthly Advance (Monthly Account Maintenance Fee), the Depository shall close accounts of Participating Entities or Depository where there are no securities. If any account has securities, the Depository shall keep the account suspended until the Depository Participating Entity or Depository Account Holder pays the prescribed fee (including any additional fee, if applicable).
  1. The said fee rate shall be effective from July 01, 2010.

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Act No. 6 of 1999Not in RegAlertAct No. 6 of 1999 — Not in RegAlertDepository (Practical) Rules, 2003Not in RegAlertDepository (Practical) Rules, 2003 — Not in RegAlertNotification related to annualBO account maintenance fee2010-06-30 · this documentNotification related to annual BO account maintenance fee (2010-06-30)
amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it
The links and the sentences they come from (2)
Amends
  • Depository (Practical) Rules, 2003Not in RegAlert

    “Under the powers conferred by Section 17(2) of the Depositories Act, 1999 (Act No. 6 of 1999), the Securities and Exchange Commission... has made the following amendments to the Depository (Practical) Rules, 2003”

Issued under
  • Act No. 6 of 1999Not in RegAlert

    “Under the powers conferred by Section 17(2) of the Depositories Act, 1999 (Act No. 6 of 1999), the Securities and Exchange Commission... has made the following amendments to the Depository (Practical) Rules, 2003”

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