Regulation 8 - Conditions of certificate of Registration - Securities and Exchange Board of India (Vault Managers) Regulations, 2021

Conditions of certificate of Registration 8 . The Registration shall be subject to the following conditions: - (a) the Vault Manager shall maintain the net-worth as specified in regulation 4 at all times during the validity of its registration; 1 [ (b) the Vault Manager shall obtain prior approval of the Board in case of change in control in such manner as specified by the Board; ] (c) the Vault Manager shall abide by the provisions of the Act and these regulations in the discharge of its obligations and duties as a Vault Manager; (d) the Vault Manager shall pay the fees as required in these regulations; and (e) the Vault Manager shall take adequate steps for redressal of the grievances of the investors in such manner and within such time as may be specified by the Board and inform the Board about the number, nature and other particulars of the complaints received, if any. *************** NOTES:- 1. Substituted vide Notification No. SEBI/LAD-NRO/GN/2023/115 dated 17-01-2023 before it was read as, (b) the Vault Manager shall, during the process of seeking registration, immediately intimate the Board about any change in information submitted including information about change in control, if any;