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TMI BlogRenewal of Certificate of RegistrationX X X X Extracts X X X X X X X X Extracts X X X X ..... ture Trustees v. Bankers to an Issue vi. Underwriters vii. Credit Rating Agencies Dear Sir / Madam, Sub: Renewal of Certificate of Registration Section 12 of the SEBI Act, 1992 requires that any intermediary in the capital market shall function as such only under a Certificate of Registration issued by SEBI. The SEBI Regulations pertaining to certain intermediaries require that the Certifica ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : a. cease to be an intermediary on the date of such expiry, b. stop carrying on the activities of the intermediary from the date of such expiry, and c. transfer, wherever relevant, the accounts / business of existing clients to another registered intermediary before the date of such expiry. If the intermediary fails to comply with all of the above, it will be considered as a violation of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions of the SEBI Act, 1992 and the regulations framed there under. It is clarified that in the above cases, the application for renewal shall mean the application complete in all respects. Incomplete application will be treated as no application. 3. If renewal is not granted by SEBI for whatever reason, the intermediary shall: a. cease to be an intermediary on the date of expiry of regi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mediary, before they make request to SEBI for accepting the surrender the certificate of registration. 5. The intermediary may, if he so desires, make a representation for dispensing with the procedure, along with the application, for surrender in terms of the first proviso to regulation 16(1) of the SEBI ( Procedure for Holding Enquiry by Enquiry Officer and Imposing Penalty ) Regulations, 2002 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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