Securities And Exchange Board Of India - Subsection
Section 3(4) in Securities and Exchange Board of India (Custodian) Regulations, 1996
(4)Any person referred to in sub-regulation (2) who fails to make an application for grant of certificate within the period or the extended period specified therein, shall cease to carry on any activity as [custodian] [Substituted 'custodian of securities' by Notification No. SEBI/LAD-NRO/GN/2019/01, dated 1.1.2019 (w.e.f. 16.5.1996).] and shall be subject to the directions of the Board with regard to the transfer of records, documents or securities relating to his activities as [custodian] [Substituted 'custodian of securities' by Notification No. SEBI/LAD-NRO/GN/2019/01, dated 1.1.2019 (w.e.f. 16.5.1996).].
