Securities And Exchange Board Of India - Subsection
Section 18(1) in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
(1)If the Board, after considering the matters specified in sub-regulation (1) of regulation 14 and making physical verification under sub-regulation (2) of that regulation, is of the opinion that the depository shall not be granted a certificate of commencement of business, it may either -(a)direct the depository to conform to the matters specified in regulation 14; or(b)reject the application after giving the applicant an opportunity of being heard.
