Regulation 8A - Conditions of registration - Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994

1 [Conditions of registration. 8A. 2 [(1) Registration granted under regulation 7 shall be subject to the following conditions, namely ] (a) where the banker to an issue proposes 3 [change in control], it shall obtain prior approval of the Board for continuing to act as such after the change; (b) it shall enter into a legally binding agreement with the body corporate for or on whose behalf it is acting as banker to an issue stating therein the allocation of duties and responsibilities between itself and the body corporate for the issue for which it is acting as a banker to an issue; 4 [(c) it shall pay the fees for registration, in the manner provided in these regulations.] (d) it shall take adequate steps for redressal of grievances of the investors within 6 [ twenty-one calendar days ] of the date of the receipt of the complaint and keep the Board informed about the number, nature and other particulars of the complaints received and the manner in which such complaints have been redressed; (e) it shall abide by the regulations made under the Act in respect of the activities carried on by it as banker to an issue. 5 [(f) it shall immediately intimate the Board, details of changes that have taken place in the information that was submitted, while seeking registration.] (2) Nothing contained in clause (a) of sub-regulation (1) shall affect the obligation to obtain a fresh registration under section 12 of the Act in cases where it is applicable. ************ NOTES:- 1 Inserted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2006, w.e.f. 07-09-2006. 2 Substituted 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 substitution it read as under: (1) Any 25[initial registration granted under regulation 7 or permanent registration granted under regulation 7A] shall be subject to the following conditions, namely:- Also, the words and figure registration granted under regulation 7 or any renewal granted under regulation 8 were substituted with the words and figures initial registration granted under regulation 7 or permanent registration granted under regulation 7A by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2011 w.e.f. 05-07-2011. 3 Substituted the words to change its status or constitution with change in control by Securities and Exchange Board of India (Change in conditions of Registration of certain Intermediaries) (Amendment) Regulations, 2011, w.e.f. 19-04-2011. 4 Substituted 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 substitution it read as under: (c) it shall pay the fees for 27[initial registration or permanent registration], as the case may be, in the manner provided in these regulations; Also, the words registration or renewal were substituted with the words initial registration or permanent registration were substituted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 2011, w.e.f. 05-07-2011. 5 Inserted 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. 6. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/146 dated 16-08-2023 before it was read as, one month