Regulation 9A - Conditions of registration - Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993

1 [9A. Conditions of registration .─ (1) Any registration granted under regulation 8 2 [***] shall be subject to the following conditions, namely:- (a) where the portfolio manager proposes to change its status or constitution, it shall obtain prior approval of the Board for continuing to act as such after the change; (b) it shall pay the fees for registration 3 [***] in the manner provided in these regulations; (c) it shall take adequate steps for redressal of grievances of the investors within one month 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; (d) it shall maintain capital adequacy requirements specified in regulation 7 at all times during the period of the certificate 4 [***]; (e) it shall abide by the regulations made under the Act in respect of the activities carried on by it as portfolio manager. (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.] ******** 1 Inserted by the SEBI (Portfolio Managers) (Second Amendment) Regulations, 2006, w.e.f. 07-09-2006. 2 The words or any renewal granted under regulation 9 , 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. 3 The words or renewal, as the case may be, , 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. 4 The words or renewal thereof , 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.