Certificate of registration conditions: compliance, fee payment, disclosure and prior approval for change of control required. Granting a certificate of registration follows Board satisfaction of eligibility; issuance is conditional on payment of prescribed registration and annual fees, compliance with the Act and related instruments, a sponsoring depository holding commencement certification, prior Board approval for changes in control, prompt disclosure of materially false or changed information, and timely grievance redressal. Registration remains valid unless suspended or cancelled; periodic five year registration fees apply from the sixth year, with prescribed timing for payment. Pre existing registrants are deemed registered under the current framework and must immediately inform the Board of any changes to submitted information.