Section 32(1) in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
(1)Where any central recordkeeping agency which has been granted a certificate of registration under these regulations -(a)fails to comply with any conditions subject to which a certificate of registration has been granted to it;(b)contravenes any of the provisions of the Act, rules or regulations made or any guidelines or notifications, directions, instructions or circulars issued there under;(c)contravenes any of the provisions of the agreements entered into with other intermediaries;(d)indulges in unfair trade practices or conducts its business in a manner prejudicial to the interests of the subscribers;(e)fails to furnish any information as required by the Authority relating to its area of operations;(f)does not submit periodical returns as required under the Act or by the Authority or NPS Trust;(g)does not cooperate in an inquiry conducted by the Authority;(h)commits any acts of defaults as mentioned under section 28 of the Act;(i)any other reason which in the opinion of the Authority warrants for suspension, cancellation or withdrawal of the certificate of registration granted.The Authority may, without prejudice to any other action under the Act, regulations, directions, instructions or circulars issued there under, by order take such action in the manner provided under these regulations including cancellation or suspension of the registration of such central recordkeeping agency and such other action, as may be deemed appropriate:
