Regulation 10 - Procedure where registration is refused - Securities and Exchange Board of India (Vault Managers) Regulations, 2021

Procedure where registration is refused 10 . (1) After considering an application made under regulation 3 , if the Board is of the opinion that a certificate should not be granted to the applicant, it may reject the application after giving the applicant a reasonable opportunity of making a written representation. (2) The decision of the Board to reject the application shall be communicated to the applicant within thirty days of such decision.