Section 12 in Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011
12. Effect of refusal to grant certificate of permanent registration.
- A KRA whose application for grant of certificate of permanent registration has been refused by the Board, on and from the date of the receipt of the communication, shall cease to carry on any activity as a KRA;Provided that the Board may, in the interest of the investors of the securities market, permit KRA to carry on activities undertaken prior to the receipt of the intimation of refusal subject to such condition as the Board may specify.
