Securities And Exchange Board Of India - Subsection
Section 3(2) in Securities and Exchange Board of India (Custodian) Regulations, 1996
(2)Any person who is carrying on business as a [custodian] [Substituted 'custodian of securities' by Notification No. SEBI/LAD-NRO/GN/2019/01, dated 1.1.2019 (w.e.f. 16.5.1996).] on the date of commencement of these regulations shall make an application to the Board for grant of certificate within a period of three months from the date of such commencement:Provided that the Board may, in special cases, where it is of the opinion that it is necessary to do so for reasons to be recorded in writing may extend the period up to a maximum of six months from the date of such commencement.
