Securities And Exchange Board Of India - Subsection
Section 36(2) in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
(2)The grant of certificate of registration in Form G of the First Schedule shall be subject to the following, namely: -(a)the participant shall pay the registration fee specified in Part A of the Second Schedule in the manner specified in Part B thereof, within fifteen days of the receipt of intimation from the Board;(b)the participant shall comply with the provisions of the Act, Depositories Act, the bye-laws, agreements and these regulations;(c)the depository through which an application for certificate of registration has been forwarded holds a certificate of commencement of business under regulation 16;(d)where the participant proposes change in control, it shall obtain prior approval of the Board for continuing to act as such after the change;(e)if any information previously submitted by the participant to the Board is found to be false or misleading in any material particular, or if there is any change in such information, the participant shall forthwith inform the Board in writing ;(f)the participant shall redress the grievances of beneficial owners within thirty days of the date of the receipt of the complaint and keep the depository informed about the number and the nature of redressals; and(g)the participant shall pay annual fees specified in Part A of the Second Schedule in the manner specified in Part B thereof.
