Section 5A in The Securities and Exchange Board of India (Intermediaries) Regulations, 2008
5A. For the purpose of determining whether an applicant or the credit rating agency is a fit and proper person the Board may take into account the criteria specified in Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008."
(ii). In regulation 33, for the words "the Securities and Exchange Board of India (Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty) Regulations, 2002" the words "Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008" shall be substituted.(iii). For regulation 34, the following regulation shall be substituted, namely:-"Liability for action in case of default
