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Consideration of application for grant of certificate of registration

onsider an application under regulation 3, unless the sponsor belongs to one of the following categories, namely :- (i) a public financial institution as defined in section 4A of the Companies Act, 1956 (1 of 1956); (ii) a bank included for the time being in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934); (iii) a foreign bank operating in India with the approval of the Rese .....

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der an application under regulation 3, unless the applicant/sponsor is a fit and proper person.] ********* 1 Renumbered by the SEBI (Depositories and Participants) (Amendment) Regulations, 2012, w.e.f. 11-9-2012 2 Omitted, ibid. Prior to omission, clause as Inserted by the SEBI (Depositories and Participants) (Amendment) Regulations, 1998, w.e.f. 5-1-1998,. read as under: ― (viii) the applic .....

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