Regulation 3 - Application for grant of certificate - Securities and Exchange Board of India (Investment Advisers) Regulations 2013

CHAPTER II REGISTRATION OF INVESTMENT ADVISERS Application for grant of certificate. 3. (1) On and from the commencement of these regulations, no person shall act as an investment adviser or hold itself out as an investment adviser unless he has obtained a certificate of registration from the Board under these regulations: 1 [****] 2 [ (1A) Notwithstanding anything contained in sub-regulation (1), any application made by a person prior to coming into force of these regulations containing such particulars or as near thereto as mentioned in Form A of First Schedule shall be treated as an application made in pursuance of sub-regulation (1) and dealt with accordingly; ] (2) An application for grant of certificate of registration shall be made in Form A as specified in the First Schedule to these regulations and shall be accompanied by a non-refundable application fee to be paid in the manner specified in Second Schedule. 3 [ (3) On and from the date of commencement of these regulations, no person, while dealing in distribution of securities, shall use the nomenclature Independent Financial Adviser or IFA or Wealth Adviser or any other similar name unless registered with the Board as Investment Adviser. ] ************* NOTES:- 1. Omitted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 before it was read as, Provided that a person acting as an investment adviser immediately before the commencement of these regulations may continue to do so for a period of six months from such commencement or, if it has made an application for a certificate under sub regulation (2) within the said period of six months, till the disposal of such application. 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020 3. Inserted vide Notification No. SEBI/LAD-NRO/GN/2020/22 dated 03-07-2020