Section 9 in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
9. Procedure for grant of certificate of registration.
- [(1) The applicant shall submit a proposal as specified under regulation 3. In order to be eligible for registration, the applicant shall be required to qualify, on the date of submission of its proposal, all the technical and commercial parameters as specified by the Authority.] [Substituted by Notification No. PFRDA/12/RGL/139/7, dated 25.6.2018 (w.e.f. 27.4.2015).](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.(3)[ The Authority upon being satisfied that the applicant satisfies the eligibility criteria as laid down under the Act, the rules and as specified under these regulations, including the provisions of regulation 4, shall grant a certificate of registration to the Applicant in the form specified under Schedule I and send an intimation to this effect to the applicant.] [Substituted by Notification No. PFRDA/12/RGL/139/7, dated 25.6.2018 (w.e.f. 27.4.2015).]
