Section 8(3) in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
(3)Where an application is rejected under clause (b) of sub-regulation (2), the Authority shall record reasons in writing:Provided that before rejecting any such application, the Authority shall give the applicant an opportunity to remove the objection within such time as may be specified by the Authority:Provided further that where an application is rejected for the reason that it contains false or misleading information, no such opportunity may be given and the applicant shall not make any application for grant of certificate under these regulations or any other regulations for a period of one year from the date of such rejection.
