Section 4 in The Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2018
4. Application for grant of certificate of registration.
(1)Any applicant meeting the eligibility criteria specified in this regulation, may apply for grant of a certificate of registration as a point of presence, in such application form as may be decided by the Authority together with a non- refundable application fee of Rupees Ten thousand. The Authority shall acknowledge receipt of the application form within seven days of receipt of such application from the applicant.(2)The applicant shall pay an initial registration fee of Rupees twenty-five thousand within fifteen days from the date of receipt of intimation from the Authority about acceptance of its application for grant of certificate of registration as a point of presence.(3)An application, not complete in all respects and not conforming to the instructions as specified in the application form and these regulations shall be rejected:Provided that a point of presence proposing to conduct activities pertaining to opening of accounts of and servicing the subscribers of Atal Pension Yojana or offering National Pension System for the benefit of its own employees , shall not be required to pay any application and registration fee.Provided that, before rejecting any such application, the applicant shall be given a reasonable opportunity to withdraw or to complete the application in all respects and rectify the errors, if any, within such time as the Authority may specify.(4)The Authority may seek additional information from the applicant for processing the application:Provided that the Authority shall record the reasons in writing for seeking such additional information.(5)Any point of presence or an aggregator, who was granted a certificate of registration to function as such under the Pension Fund Regulatory and Development Authority (Point of Presence) Regulations, 2015 and the Pension Fund Regulatory and Development Authority (Aggregator) Regulations, 2015 shall continue to act as a Point of Presence and/ or Aggregator, as the case may be and they are deemed to have been registered under these regulations for which purpose it shall be issued a fresh registration under the provisions of these regulations by the Authority. Such point of presence or aggregator may also seek registration additionally for such activities enumerated under sub-regulation(1) of Regulation 3, for which it presently does not have any registration..(6)Any point of presence dealing with distribution of Atal Pension Yojana(APY) and servicing of subscribers under the said scheme, which was granted a permission to function as such by the Authority prior to the notifications of these regulations may continue to act as such for a period of one hundred and eighty days or such extended period, from the notification of these regulations, or if it makes an application for grant of registration, within ninety days of notification of these regulation or such extended period, till the disposal of its application by the Authority.
