Section 9 in Securities And Exchange Board Of India (Merchant Bankers) Regulations, 1992
9. Renewal of certificate.-
(1)Three months before expiry of the period of certificate, the merchant banker, may if he so desires, make an application for renewal in Form A.(1A)[ An application for renewal made under sub-regulation (1) shall be accompanied by a non-refundable application fee as specifed in Schedule II.] [Inserted by S.O. 1448(E), dated 7.9.2006](1B)[ The application for renewal under sub-regulation (1) shall be accompanied by details of the changes that have taken place in the information that was submitted to the Board while seeking registration or earlier renewal, as the case may be, and a declaration stating that no changes other than those as mentioned in such details have taken place.] [Inserted by SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 w.e.f. 26.08.2009.](2)The application for renewal, under sub-regulation (1) shall be dealt with in the same manner as if it were a fresh application for grant of a certificate.[Provided that in case of an application for renewal of certificate of registration, the provisions of clause (a) of regulation 6 shall not be applicable upto June 30th, 1998] [Inserted by S.O. 74(E), dated 21.1.1998](3)The Board on being satisfied that the applicant is eligible for renewal of certificate shall grant a certificate in Form B and send intimation to the applicant mentioning the category for which the Board has granted the certificate.(4)Notwithstanding anything contained in sub-regulation (1), where a certificate has been granted for a category lower than, for what has been applied for, the applicant may make an application to the Board at any time after the expiry of one year from the date of grant of such registration.(5)An application made under sub-regulation (4) shall be considered in the same manner as an application made under regulation 3.(6)On the grant of a certificate the applicant shall be liable to pay the fees for which the registration in accordance with Schedule II;Provided that the amount of fees payable shall be proportionately reduced by the amount of fees already paid by the merchant banker for the year in which the registration is granted in the higher category.
