In principle approval for non compliant applicants permits a limited cure period and discretionary short extension. Regulation 4A authorises an in principle approval for applicants not meeting specified eligibility clauses at filing, subject to a limited validity within ... Summary
Securities and Exchange Board of India (Self Regulatory Organisations) Regulations, 2004
In principle approval for non compliant applicants permits a limited cure period and discretionary short extension.
Regulation 4A authorises an in principle approval for applicants not meeting specified eligibility clauses at filing, subject to a limited validity within which the applicant must secure full compliance; the authority may grant a further limited extension on sufficient cause, making the approval a conditional, temporary mechanism allowing cure of non compliance prior to final recognition.
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