9911796707
TMI BlogConsideration of applicationX X X X Extracts X X X X X X X X Extracts X X X X ..... g to portfolio management. (2) Without prejudice to the generality of the foregoing provisions, the Board shall consider whether- (a) the applicant is a body corporate; (b) the applicant has the necessary infrastructure like adequate office space, equipments and the manpower to effectively discharge the activities of a portfolio manager; 2 [(c) the principal officer of the applicant has either (i) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s been rejected by the Board; (f) any disciplinary action has been taken by the Board against a person directly or indirectly connected with the applicant under the Act or the Rules or the Regulations made thereunder. Explanation.─ For the purposes of sub-clauses (e) and (f), the expression person directly or indirectly connected means any person being an associate, subsidiary, inter-connect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 1 Substituted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2002, w.e.f. 11-10-2002. Prior to substitution, regulation 6 read as under: 6. Consideration of application.─ The Board shall take into account for considering the grant of a certificate, all matters which are relevant to the activities relating to portfolio manager and in particular whether the applicant complies with t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulation 7; (e) the applicant, his partner, director or principal officer is not involved in any litigation connected with the securities market and which has an adverse bearing on the business of the applicant; (f) the applicant, his director, partner or principal officer has not at any time been convicted for any offence involving moral turpitude or has been found guilty of any economic offence; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .e.f. 02-01-2017. 4 Inserted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2016, w.e.f. 02-01-2017. 5 Substituted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2008, w.e.f. 11-08-2008 for the words as portfolio manager or stock broker or investment manager. 6 Inserted by the SEBI (Portfolio Managers) (Amendment) Regulations, 1998, w.e.f. 05-01-1998. - - statute, statutory ..... X X X X Extracts X X X X X X X X Extracts X X X X
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