Section 18 in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
18. Surrender of approval.
(1)Any designated depository participant, who has been granted approval under these regulations, desirous of surrendering the approval granted, may make a request for such surrender to the Board.(2)While accepting the surrender under sub-regulation (1), the Board may impose such conditions as it deems fit for the protection of investors or the clients of the designated depository participant or the securities market and such person shall comply with such conditions.
