Securities And Exchange Board Of India - Subsection
Section 3(4)(a) in The Securities and Exchange Board of India (Intermediaries) Regulations, 2008
(a)where the certificate was granted for a specified period, an application for grant of certificate under sub-regulation (1) shall be made by the intermediary at least three months prior to the expiry of such period or three months prior to expiry to two years from the commencement of these-regulations in relation to such intermediary, whichever is earlier and if the intermediary, whichever is earlier and if the intermediary fails to do so, it shall cease to act as an intermediary on and from the expiry of the aforementioned period;