Regulation 16 - Grant of certificate of commencement of business - Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018

Grant of certificate of commencement of business 16. 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 .