Section 14 in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
14. Exemptions in certain cases from eligibility criteria.
(1)If any applicant, does not fulfill the eligibility criteria specified under sub-regulation (c) and (g) of Regulation 5, relating to number of branches and profitability, it may request the Authority, by making an application seeking exemption from fulfillment of such of the eligibility criteria, for just cause to be shown.(2)If in the opinion of the Authority, the non-fulfillment of the eligibility criteria by the applicant and of which relaxation is sought, would not pre-judicially affect the interest of the subscribers, may grant exemption from such criteria, by recording its reasons in writing. The Authority may in such circumstances impose such additional conditions. as it may deem fit for grant of certificate of registration.
