Stock broker certification refusal requires hearing, written reasons, and a 30 day reconsideration right.

The Board may refuse a stock broker registration certificate only after giving a reasonable opportunity of being heard, and must, within thirty days of refusal, notify the applicant and the concerned recognized stock exchange of the refusal and the reasons for refusal. The applicant may apply for reconsideration within thirty days of receipt, and the Board must reconsider and promptly communicate its decision in writing to the applicant and the concerned recognized stock exchange.

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