Section 9(3) in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
(3)Any application for grant of certificate of registration,-(a)which is not complete in all respects and does not conform to the requirements and the relevant requirements specified in these regulations; or(b)which does not contain such additional information as required by the Authority; or(c)which is incorrect, false or misleading in nature; or(d)where the applicant is not in compliance with the eligibility requirements as set out under these regulations or the relevant regulations; or(e)which in the opinion of the Authority is not in the interest of subscribers and or the objective of orderly development of pension sector and/ or the National Pension System or any other pension scheme regulated or administered under the Pension Fund Regulatory and Development Authority Act, 2013; or(f)where the applicant is not a 'fit and proper person' or not complying with the requirements as specified in these regulations; shall be rejected by the Authority for reasons to be recorded in writing by the Authority.
