Section 44(3) in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
(3)The eligibility criteria for such point of presence- sub entity for seeking registration from the Authority through the concerned point of presence shall be as follows:i. such an entity shall not be an individual and shall be a company registered under Companies Act, 1956 or Companies Act, 2013, or a society registered under Societies Registration Act, 1860 or a Trust created under Indian Trusts Act, 1882, a registered partnership firm and should be in the business of dealing with sale, distribution or advisory services of financial services products for commercial gain or working with a social motto of spreading the beneficial services to the citizens;ii. such entity shall apply to the Authority in the specified application form along with the recommendation and Certification of its intent by a registered point of presence along with a onetime registration fee of rupees five thousand only and if in the opinion of the Authority, the application is in order and serves the interests of the subscribers of pension schemes and National Pension System, it may register such entity as a point of presence-sub entity and allow it to carry on activities under pension schemes and/or under National Pension System, in accordance with these regulations and any other notifications, guidelines, circulars etc. issued by the Authority from time to time.
