Regulation 16 - Application for grant of certificate of initial registration. - Securities And Exchange Board of India (Depositories And Participants) Regulations, 1996

CHAPTER IV REGISTRATION OF PARTICIPANT Application for grant of certificate of 1 initial] registration. 16. (1) An application for the grant of a certificate of 2 [initial] registration as a participant shall be made to the Board in Form E, through 3 [the] depository in which the applicant proposes to act as a participant, shall be accompanied by the fee specified in Part A of the Second Schedule and be paid in the manner specified in Part B thereof. (2) The depository shall forward to the Board the application in Form E as early as possible, but not later than thirty days along with its recommendations and certifying that the participant complies with the eligibility criteria including adequate infrastructure as provided for in these regulations and the bye-laws of the depository. *********** 1 Inserted by the SEBI (Depositories and Participants) (Amendment) Regulations, 2011, w.e.f. 5-7-2011. 2 ibid. 3 Substituted for each by the SEBI (Depositories and Participants) (Amendment) Regulations, 2014, w.e.f. 24-12-2014.