Securities And Exchange Board Of India - Subsection
Section 3(4) in The Securities and Exchange Board of India (Intermediaries) Regulations, 2008
(4)An intermediary, who was granted a certificate under the relevant regulations prior to the commencement of these regulations in relation to such intermediary may continue to act as such, subject to the following-(a)where the certificate was granted for a specified period, an application for grant of certificate under sub-regulation (1) shall be made by the intermediary at least three months prior to the expiry of such period or three months prior to expiry to two years from the commencement of these-regulations in relation to such intermediary, whichever is earlier and if the intermediary, whichever is earlier and if the intermediary fails to do so, it shall cease to act as an intermediary on and from the expiry of the aforementioned period;(b)where a certificate has been granted to an intermediary on a permanent basis, the certificate may continue to be valid under these regulations subject to the condition that the intermediary shall, within two years of commencement of these regulations in relation to such intermediary, furnish the information in Form A to the Board and upload the information in Part I thereof on the website specified by the Board;Provided that the time specified in clause (b) may be extended by the Board up to a period of six months on sufficient reasons being shown by the intermediary.
