TMI BlogConsideration of application for grant of certificate of registrationX X X X Extracts X X X X X X X X Extracts X X X X ..... ll matters which are relevant to or relating to the efficient and orderly functioning of a participant and in particular, whether the applicant complies with the following requirements, namely :- (a) the applicant belongs to one of the following categories,- (i) a public financial institution as defined in section 2(72) of the Companies Act, 2013; (ii) a bank included for the time being i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -section (1) of section 12 of the Act : 1 [ Provided that the stock broker shall have a networth of rupees three crores {within one year of the date of notification of the Securities and Exchange Board of India (Depositories and Participants) (Amendment) Regulations, 2022}, which shall be increased to rupees five crores {within two years of the date of notification of the Securities and Excha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... are transfer agent who has a minimum net worth of rupees ten crores and who has been granted a certificate of registration by the Board under sub-section (1) of section 12 of the Act; (b) the applicant is eligible to be admitted as a participant of the depository through which it has made the application to the Board; (c) the applicant has adequate infrastructure, systems, safeguards and tra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a participant in more than one depository, he shall comply with the criteria specified in the first proviso separately for each such depository: Provided also that where the stock broker has a minimum net worth of rupees ten crore, the limits on the aggregate value of the portfolio of securities of the beneficial owners held in dematerialized form in a depository through him shall not be appli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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