Section 30 in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
30. Surrender of any certificate of registration.
(1)Any point of presence, who has been granted a certificate of registration under the Act or the regulations made thereunder, desirous of giving up its activity and surrendering the certificate, may make a request for such surrender to the Authority.(2)While disposing off a request under these regulations, the Authority may require the concerned point of presence to satisfy the Authority of such factors as it deems fit, including, but not limited to the following-(a)the arrangements made by the Point of Presence, at its own costs and expenses for maintenance and preservation of records and other documents required to be maintained under the relevant Act, regulations and guidelines;(b)redressal of subscriber grievances;(c)transfer of records, funds or securities of the subscribers, at its own cost and expense;(d)the arrangements made by it for ensuring continuity of service to the subscribers;(e)defaults or pending actions, if any;(f)Any other matter in the interest of the subscribers.(3)While accepting the surrender request, the Authority may impose such conditions upon the point of presence as it deems fit for the protection of interest of the subscribers of the pension schemes including the National Pension System and the Point of presence concerned shall comply with such conditions.(4)No point of presence shall be permitted to surrender its certificate, in respect of which any action for default has been initiated or has been contemplated by the Authority.
