Section 9(2) in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
(2)The Authority may grant the certificate of registration as a central recordkeeping agency on being satisfied that -(a)the application for registration is complete in all respects and is accompanied by all documents required therein;(b)all information given in the application form is correct;(c)the applicant submitting the application for registration is a bonafide entity and in its opinion, is likely to meet effectively its obligations as the central recordkeeping agency;(d)the financial condition and the general character of the management of the applicant are sound;(e)the scale of operations and the capital structure of the applicant shall be adequate;(f)the interests of the subscribers will be served if the certificate is granted to the applicant and it is competent to discharge its functions as a central recordkeeping agency.
