Certificate of commencement requirement ensures depositories meet systems and safeguards before starting operations, via prescribed regulatory formality. A depository must obtain a Certificate of Commencement of Business from the Board in the form prescribed by regulations before acting as a depository; the ... Summary
Certificate of commencement requirement ensures depositories meet systems and safeguards before starting operations, via prescribed regulatory formality.
A depository must obtain a Certificate of Commencement of Business from the Board in the form prescribed by regulations before acting as a depository; the Board will grant the certificate only after being satisfied that the depository has adequate systems and safeguards to prevent manipulation of records and transactions, and no certificate shall be refused without giving the depository a reasonable opportunity of being heard.
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