Regulation 11 - Conditions of registration - Securities And Exchange Board of India (Portfolio Managers) Regulations, 2020

Conditions of registration. 11. The certificate of registration granted under regulation 10 shall, inter alia, be subject to the following conditions, namely: - (a) the portfolio manager shall abide by the provisions of the Act and these regulations; 1 [ (aa) the portfolio manager shall obtain prior approval of the Board in case of change in control in such manner as may be specified by the Board ] (b) the portfolio manager shall forthwith inform the Board in writing, if any information or particulars previously submitted to the Board are found to be false or misleading in any material particular or if there is any material change in the information already submitted; (c) the portfolio manager shall pay the fees for registration in the manner provided in these regulations; (d) the portfolio manager shall take adequate steps for redressal of grievances of the investors within 4 [ 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 (e) the portfolio manager shall maintain the net worth specified in regulation 9 at all times during the period of the certificate 2 [ : ] 3 [ Provided that the requirement under clause(e) shall not apply to Co-investment Portfolio Manager. ] ************** NOTES:- 1. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/16 dated 26-04-2021 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/58 dated 09-11-2021 w.e.f. 09-12-2021 before it was read as . 3. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/58 dated 09-11-2021 w.e.f. 09-12-2021 4. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/146 dated 16-08-2023 before it was read as, one month