Section 3 in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
3. [ Application for grant of certificate of registration and application fee. [Substituted by Notification No. PFRDA/12/RGL/139/7, dated 25.6.2018 (w.e.f. 27.4.2015).]
(1)Any applicant meeting the eligibility criteria specified in these regulation, may apply for grant of a certificate of registration as a central recordkeeping agency, in such application form as may be determined by the Authority.(2)The registrations granted to existing central recordkeeping agency(s), prior to the notification of this amendment, shall continue to remain valid and be in force for all purposes, for the original period so granted, along with any extension thereof, subject however that such central recordkeeping agency(s) may seek fresh registration in accordance with process specified under these amendments to regulations.Provided, further that such existing central recordkeeping agency shall make an application as specified in these regulations and comply with the provisions of the Act and these regulations. The existing central recordkeeping agency shall pay all fees, so stipulated for the purpose, including the annual fee as specified under these regulations.(3)The Authority shall examine the eligibility of the applicants in terms of the provisions of the Act, rules and these regulations and any other criteria, so specified.(4)The allocation of the subscribers between the existing central recordkeeping agency and the other central recordkeeping agency or agencies, if appointed, shall be based on a transparent criteria and process as may be issued by the Authority from time to time having regard to the subscribersÂ’ interest. The central recordkeeping agency shall at all times comply with the provisions of the Act or the rules or the regulations made or directions, circulars or guidelines issued by the Authority there under. The central recordkeeping agency shall also ensure compliance of the quality of subscriber service or services to other intermediaries and ensure that intermediation and other operational costs under the National Pension System or any other pension scheme regulated or administered by the Authority are economical and reasonable.(5)A non-refundable application fee of rupees ten lakh shall be paid by an applicant along with its application to the Authority payable at New Delhi.
