Regulation 11 - Surrender of registration - Securities and Exchange Board of India (Vault Managers) Regulations, 2021

Surrender of registration 11. (1) A Vault Manager shall make an application to the Board in terms of Chapter V of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 to surrender the certificate of registration along with information that would satisfy the Board that: (a) the vaults have no pending obligations for physical delivery of gold; and (b) all disputes with respect to the gold deposited with it for the purpose of providing vaulting services as specified in these regulations have been satisfactorily resolved. (2) After surrender of registration, the financial security deposit furnished by the Vault Manager shall be refunded as per the procedure specified by the Board.