Section 13(2) in Pension Fund Regulatory and Development Authority (Trustee Bank) Regulations, 2015
(2)The Authority may, extend or reduce the tenure of the registration certificate, for such period as it may determine in the interest of the subscribers. Such extension or reduction shall be granted for reasons to be recorded in writing. Any extension granted to the Trustee Bank upon expiry of tenure of registration shall be binding on the Trustee Bank and the Trustee Bank shall discharge its functions in accordance with the terms of such extension.
