Section 6 in Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016
6. Consideration of application and eligibility criteria.
- For the purpose of the grant of certificate, the Authority shall take into account all matters which are relevant to the grant of certificate of registration and in particular the following, namely, -(a)whether the applicant is an individual, a body corporate or a registered partnership firm or society or trust registered under applicable law;(b)where the applicant is a body corporate, all the representatives of the applicant who provide retirement advice are appropriately qualified and certified as specified in regulation 7;(c)Where the applicant is a proprietary concern, firm, limited liability partnership or trust or society, proprietors or all partners or majority of trustees or members of the society who are engaged in giving retirement advice are qualified and certified as specified in regulation 7;(d)whether the applicant has the necessary infrastructure to effectively discharge the activities of a retirement adviser;(e)whether the applicant or any person directly or indirectly connected with the applicant has in the past been refused certificate by the Authority in regard to any functions or as an intermediary and if so, the grounds for such refusal;(f)whether any disciplinary action or other measures have been taken by the Authority or any other regulatory authority or by a government department or by any entity in the financial sector or by any professional body or institution against any person or entity, either directly or indirectly connected with the applicant under the respective Act, rules or regulations made thereunder in the past five years immediately preceding such application or such person has been convicted by any court for commission of any economic offence or involving moral turpitude in the past five years immediately preceding such application ;(g)any other criteria that may be notified by the Authority, as may be deemed fit in the interest of subscribers.
