Annual maintenance fee f BO account hiked
Wednesday, 30 June 2010
FE Report
Annual maintenance fee of beneficiary owner's account has been increased to Tk 500 from Tk 300 in a bid to boost the revenue the government's earnings, said an official of the securities regulator Tuesday.
It will be effective from July 1 (Thursday).
The Securities and Exchange Commission (SEC) has also approved the prospectus of initial public offering (IPO) of Active Fine Chemicals Ltd and trust deed of Green Delta Mutual Fund.
All the decisions came in a 'commission meeting' with SEC Chairman Ziaul Haque Khondker in the chair.
"The extra Tk 200 charge to be taken from the investors as annual maintenance fee of BO (beneficiary owner) account will be deposited to the public exchequer," said Anwarul Kabir Bhuiyan, an executive director of the SEC.
The BO accounts fee will be collected by Central Depository Bangladesh Limited (CDBL), he said.
Number of active BO accounts stood at more than 2.6 million as of July 29, according to the CDBL.
Currently, an investor has to pay Tk 300 annually for maintaining BO account and of the amount, SEC, CDBL and Depository Participant (DP) take Tk 50, Tk 150 and Tk 100 respectively.
Active Fine Chemicals Ltd, a chemical reagent and active pharmaceutical ingredients (API) maker, will raise Tk 160 million from the stock market to strengthen its capital base.
Annual maintenance fee of beneficiary owner's account has been increased to Tk 500 from Tk 300 in a bid to boost the revenue the government's earnings, said an official of the securities regulator Tuesday.
It will be effective from July 1 (Thursday).
The Securities and Exchange Commission (SEC) has also approved the prospectus of initial public offering (IPO) of Active Fine Chemicals Ltd and trust deed of Green Delta Mutual Fund.
All the decisions came in a 'commission meeting' with SEC Chairman Ziaul Haque Khondker in the chair.
"The extra Tk 200 charge to be taken from the investors as annual maintenance fee of BO (beneficiary owner) account will be deposited to the public exchequer," said Anwarul Kabir Bhuiyan, an executive director of the SEC.
The BO accounts fee will be collected by Central Depository Bangladesh Limited (CDBL), he said.
Number of active BO accounts stood at more than 2.6 million as of July 29, according to the CDBL.
Currently, an investor has to pay Tk 300 annually for maintaining BO account and of the amount, SEC, CDBL and Depository Participant (DP) take Tk 50, Tk 150 and Tk 100 respectively.
Active Fine Chemicals Ltd, a chemical reagent and active pharmaceutical ingredients (API) maker, will raise Tk 160 million from the stock market to strengthen its capital base.