Securities And Exchange Board Of India - Subsection
Section 38(3) in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
(3)On receipt of an application under sub-regulation (2), the depository shall, on being satisfied with the compliance of the provisions of these regulations and other relevant eligibility requirements specified by the Board, grant approval to act as its participant subject to payment of registration fees specified in Part A of Second Schedule in the manner specified in Part B thereof, by the participant within fifteen days of the receipt of intimation from the depository.
