Securities Lawyer's Deskbook                          published by The University of Cincinnati College of Law

Rule 31T -- Temporary Rule Regarding Fiscal Year 2004 (expires on January 1, 2005)

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1. Definitions.



1. For the purpose of this section, the following definitions shall apply
:


1. FY2004 adjustment amount means the FY2004 recalculated amount minus the FY2004 prepayment amount.



2. FY2004 prepayment amount means the total dollar amount of fees and assessments paid by a covered SRO pursuant to the March 15, 2004, due date for covered sales and covered round turn transactions having a charge date between September 1, 2003, and December 31, 2003, inclusive.



3. FY2004 recalculated amount means the total dollar amount of fees and assessments owed by a covered SRO for covered sales and covered round turn transactions having a charge date between September 1, 2003, and December 31, 2003, inclusive, as calculated by the Commission based on the data submitted by the covered SRO in its Form R31 (§ 249.11 of this chapter) submissions for September 2003, October 2003, November 2003, and December 2003, and indicated on a Section 31 bill for these months.



2. Any term used in this section that is defined in Rule 31(a) of this chapter shall have the same meaning as in § Rule 31(a) of this chapter.



2. By August 13, 2004, each covered SRO shall submit to the Commission a completed Form R31 for each of the months September 2003 to June 2004, inclusive.



3. If the FY2004 adjustment amount of a covered SRO is a positive number, the covered SRO shall include the FY2004 adjustment amount with the payment for its next Section 31 bill.



4. If the FY2004 adjustment amount is a negative number, the Commission shall credit the FY2004 adjustment amount to the covered SRO's next Section 31 bill.



5. Notwithstanding paragraph (a)(1)(iii) of this section, any covered exchange that as of August 2003 was calculating its Section 31 fees based on the trade date of its covered sales shall not include on its September 2003 Form R31 data for any covered sale having a trade date before September 1, 2003.



6. This temporary section shall expire on January 1, 2005.

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