Regulation 13 - Procedure on receipt of application
Securities and Exchange Board of India (Central Database Of Market Participants) Regulations, 2003 Chapter III GRANT AND REVOCATION OF UNIQUE IDENTIFICATION NUMBERS
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Allotment of unique identification number: provider must issue promptly; defects attract notice, rectification opportunity and possible Board referral. Regulation 13 requires the Designated Service Provider to allot a unique identification number when an application is not defective within a prescribed ... Summary
Allotment of unique identification number: provider must issue promptly; defects attract notice, rectification opportunity and possible Board referral.
Regulation 13 requires the Designated Service Provider to allot a unique identification number when an application is not defective within a prescribed period. If an application is defective, the Designated Service Provider must notify the applicant and allow time for rectification, including a possible extension by the Board. Failure to rectify within the period requires referral to the Board, which may, after giving the applicant an opportunity to make representations, direct allotment or reject the application.
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