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of <h1>Securities Regulatory Board Empowered to Reject Certificate Applications for Noncompliance or Misrepresentation Under Specified Conditions</h1> The regulation outlines a procedure for rejecting applications for certificates by the securities regulatory board. If an application fails to meet eligibility criteria, the board may reject it in writing, providing reasons. Applicants are typically given an opportunity to address objections within a specified timeframe. However, if the application contains false or misleading information, the board can reject it without providing an opportunity to rectify, and the applicant is barred from reapplying for one year.
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