Regulation 12 - Omitted - Securities and Exchange Board of India {KYC (Know Your Client) Registration Agency} Regulations, 2011

12. 1 [ **** ] ************** NOTES:- 1 Omitted by the Securities and Exchange Board of India (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations,2016 w.e.f. 08-12-2016. Prior to omission regulation 12 read as under: Effect of refusal to grant certificate of permanent registration 12. A KRA whose application for grant of certificate of permanent registration has been refused by the Board, on and from the date of the receipt of the communication, shall cease to carry on any activity as a KRA; Provided that the Board may, in the interest of the investors of the securities market, permit KRA to carry on activities undertaken prior to the receipt of the intimation of refusal subject to such condition as the Board may specify.