Section 10 in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
10. Conditions of certificate of registration.
(1)Any certificate of registration granted by the Authority to an applicant shall be subject to the following conditions, namely, -(a)where the applicant proposes to change its status or constitution, it shall obtain prior approval of the Authority for continuing to act as the central recordkeeping agency after such change in status or constitution;(b)[ it shall at all times meet the eligibility criteria and other requirements as specified under these regulations: [Substituted by Notification No. PFRDA/12/RGL/139/7, dated 25.6.2018 (w.e.f. 27.4.2015).]Provided that the Authority may impose any other conditions as it may deem fit in the interest of subscribers or orderly development of the National Pension System or any other scheme regulated or administered by it or for regulation of the working of the central recordkeeping agency and the central recordkeeping agency shall comply with such conditions.](c)it shall pay the applicable fees in accordance with these regulations;(d)it shall maintain separate books of accounts for all activities as central recordkeeping agency;(e)it shall abide by the provisions of the Act, regulations and the directions, guidelines, notifications and circulars as may be issued there under by the Authority;(f)it shall continuously comply with the disclosure of information;(g)it shall at all times comply with the code of conduct as specified in Schedule II.(2)A request for prior approval, under clause (a) of sub-regulation (1) which is complete in all respects shall be disposed off by the Authority within a period of sixty days from the date of receipt of such request and where the decision of the Authority has not been communicated to the applicant within the said period of sixty days, the prior approval shall be deemed to have been granted.(3)[ Subject to compliance with the provisions of the Act, rules and regulations, the certificate granted to an applicant shall be valid, unless surrendered by the applicant with the approval of the Authority or suspended or cancelled by the Authority, in accordance with these regulations.] [Substituted by Notification No. PFRDA/12/RGL/139/7, dated 25.6.2018 (w.e.f. 27.4.2015).]
