Section 8 in Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999
8. [ Grant of certificate of initial registration. [Substituted by Notification No. F.No LAD-NRO/GN/2011-12/10/21232. dated 5.7.2011 (w.e.f. 7.7.1999).]
(1)The Board, on being satisfied that the application is eligible, shall grant a certificate of initial registration in Form B and shall send an intimation to the applicant.(2)The certificate of initial registration granted under sub-regulation (1) shall be valid for a period of five years from the dated of its issue to the applicant.(3)The credit rating agency who has already been granted a certificate of registration by the Board, prior to the commencement of the Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2011, and has not completed a period of three years, shall be deemed to have been granted a certificate of initial registration for a period of five years,from the date of its certificate of registration ,subject to payment of fee for the remaining period of two years, as specified under Part A of Second Schedule, in the manner prescribed in Part B thereof.(4)The grant of a certificate of initial registration shall be subject to payment of the registration fees as specified under Part A of Second Schedule, in the manner Prescribed in Part B thereof.]
