Regulation 6 - Consideration of application. - Securities and Exchange Board of India (Bankers to an Issue) Regulations, 1994

Consideration of application. 6. The Board shall take into account for considering the grant of a certificate, all matters which are relevant to the activities relating to banker to an issue and in particular whether the applicant fulfils the following requirements, namely :- (a) the applicant has the necessary infrastructure, communication and data processing facilities and manpower to effectively discharge its activities; (b) the applicant or any of its directors is not involved in any litigation connected with the securities market and which has an adverse bearing on the business of the applicant or has not been convicted of any economic offence; (c) the applicant is a scheduled bank 2 [ or such other banking company as specified by the Board ] ; 1 [(cc) the applicant is a fit and proper person;] (d) grant of certificate to the applicant is in the interest of investors. ******** 1 Inserted by the Securities and Exchange Board of India (Bankers to an Issue) (Amendment) Regulations, 1998, w.e.f. 05-01-1998. 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/26 dated 30-07-2021