Section 19 in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014
19. Surrender of approval.
(1)Any designated depository participant, who has been granted approval under these regulations, desirous of giving up its activity and surrendering the approval granted, may make a request for such surrender to the Board.(2)While accepting the surrender under sub-regulation (1), the Board may impose such conditions as it deems fit for protection of investors or the clients of designated depository participants or the securities market and such person shall comply with such conditions.
