Regulation 11 - Procedure where certificate is not granted - Securities and Exchange Board of India (Index Providers) Regulations, 2024

Procedure where certificate is not granted 11 . (1) If after considering an application made under regulation 4 , the Board is of the opinion that a certificate of registration shall not be granted, it may, after giving the applicant a reasonable opportunity of being heard, reject the application. (2) The decision of the Board, to reject the application under sub-regulation (1) shall be communicated to the applicant within a period of thirty days of such decision, with grounds for not accepting the application.