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TMI BlogSecurities And Exchange Board Of India (Credit Rating Agencies) (Amendment) Regulations, 2011.X X X X Extracts X X X X X X X X Extracts X X X X ..... may be called the Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2011. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In regulation 2, in clause (e), the words registration granted or renewed shall be substituted with the words initial or permanent registration granted . 4. In regulation 3, - (i) in the marginal note, after the word certificate the words of initial registration shall be inserted; (ii) in sub-regulation (1), after the words certificate of the word initial shall be inserted. 5. Regulation 8 shall be substituted with the following, namely: - 8. Grant of certificate of initial registration. (1) The Board, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cation for grant of a certificate of permanent registration in Form A. (2) The credit rating agency who has already been granted a certificate of registration by the Board and has completed a period of five years, on the date of commencement of the Securities and Exchange Board of India (Credit Rating Agencies) (Amendment) Regulations, 2011, may, three months before the expiry of validity of certificate of registration or before, make an application for grant of a certificate of permanent registration in Form A. (3) An application under sub-regulation (1) or sub-regulation (2) shall be accompanied by non-refundable application fee as specified in the Second Schedule. (4) The application for grant of a certificate of permanent regis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation 8A and the words should not be granted or renewed shall be substituted with the words of initial or permanent registration should not be granted ; (ii) in sub-regulation (2), the words or not to renew the certificate shall be substituted with the words and sign certificate of initial or permanent registration, as the case may be, ; 10. In regulation 12, - (i) sub-regulation (1) shall be substituted with the following sub-regulation, namely: - (1) A credit rating agency whose application for grant of a certificate of permanent registration has been refused by the Board, on and from the date of the receipt of the communication, shall cease to undertake any credit rating activity. (ii) in sub-regulation (4), the w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 26,66, 700 3. Balance fee for credit rating agencies referred under sub-regulation (3) of regulation 8 ₹ 6,66,700 4. Permanent registration fee (for every three years) ₹ 10,00,000 (iii) Part B shall be substituted with the following, namely: 1. A credit rating agency who has been granted certificate of initial registration under regulation 8(1), shall pay fees, as specified under item 2 of Part A, within fifteen days from the date of receipt of intimation from the Board. 2. A credit rating agency referred to under sub- regulation (3) of regulation 8, shall pay fee, as specified under item 3 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ulations, 2002 vide No. SO. 1045 (E). (d) February 19; 2003 by SEBI (Credit Rating Agencies) (Amendment) Regulations, 2003 vide No, S.O. 203(E). (e) October 1, 2003 by the SEBI (Credit Rating Agencies) (Second Amendment) Regulations, 2003 vide No. S.O. 1160(E). (f) March 10, 2004 by the SEBI (Criteria for Fit and Proper Person) Regulations, 2004 vide No. S.O. 398 (E). (g) September 7, 2006 by the SEBI (Credit Rating Agencies) (Amendment) Regulations, 2006 vide No. S.O. 1454(E). (h) May 26, 2008 by SEBI (Intermediaries) Regulations, 2008 vide No. LAD/NRO/GN/2008/11/126538. (i) March 19, 2010 by the SEBI (Credit Rating Agencies) (Amendment) Regulations, 2010 vide Notification No. LAD-NRO/GN/2009-2010/30/199 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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