Securities And Exchange Board Of India - Subsection
Section 22(3) in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
(3)Any person eligible to acquire or hold more than five percent of the paid up equity share capital under sub-regulation (1) and sub-regulation (2) of regulation 21 may acquire or hold more than five percent of the paid up equity share capital of a depository only if the person has obtained prior approval of the Board.
