Section 16 in Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018
16. Grant of certificate of commencement of business.
- After considering the application under regulation 14 with reference to the matters specified in sub-regulation(1) of regulation 14 and making physical verification under sub-regulation (2) of that regulation, if the Board is satisfied that the depository is eligible to commence business as a depository, shall grant a certificate of commencement of business in Form D of the First Schedule.
