Regulation 6A - Requirement of fit and proper - Securities And Exchange Board of India (Depositories And Participants) Regulations, 1996

1 [Requirement of fit and proper. 6A. (1) Every depository, its sponsor, shareholder and participant shall satisfy the fit and proper criteria at all times. (2) For the purpose of determining whether an applicant, depository, its sponsor, shareholder, director and key management personnel or a participant, is a fit and proper person under these regulations, the Board may take into consideration the criteria specified in Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008. (3) If any question arises as to whether a person is fit and proper, the Board s decision on such question shall be final ] ********** 1 Substituted by the SEBI (Depositories and Participants) (Amendment) Regulations, 2012, w.e.f. 11-9-2012. Prior to substitution, Regulation 6A as inserted by the SEBI (Intermediaries) Regulations, 2008, w.e.f. 26-05-2008, read as under: Criteria for fit and proper person. 6A. For the purpose of determining whether an applicant or the depository and participant is a fit and proper person the Board may take into account the criteria specified in Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008.