Regulation 13 - Omitted - Securities and Exchange Board of India (Stock Brokers) Regulations, 1992

3 [ **** ] ************* NOTES:- 1 Substituted for 11 by the SEBI(Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2006, w.e.f. 07-09-2006. 2 Substituted for 11 by the SEBI(Stock Brokers and Sub-brokers) (Second Amdt.) Regulations, 2006, w.e.f. 07-09-2006. 3. Omitted vide Notification No. SEBI/LAD-NRO/GN/2018/27 dated 30-07-2018 w.e.f. 01-04-2019 before it was read as Procedure where registration is not granted. 13. (1) Where an application for grant of a certificate under regulation 1 [11A], does not fulfill the requirements mentioned in regulation 2 [11A], the Board may reject the application after giving a reasonable opportunity of being heard. (2) The refusal to grant the certificate shall be communicated by the Board within thirty days of such refusal to the concerned stock exchange and to the applicant in writing stating therein the grounds on which the application has been rejected. (3) An applicant may, being aggrieved by the decision of the Board under sub regulation (2), within a period of thirty days from the date of receipt of such intimation, apply to the Board for reconsideration of its decision. (4) The Board shall reconsider an application made under sub-regulation (3) and communicate its decision as soon as possible in writing to the applicant and to the concerned stock exchange.