SEBI Regulation 6A: Criteria for Evaluating Fit and Proper Custodians Updated with 2019 Terminology Changes
Regulation 6A of the Securities and Exchange Board of India (Custodian) Regulations, 1996, outlines the criteria for determining if an applicant or custodian is a fit and proper person. The Securities and Exchange Board of India (SEBI) considers the criteria specified in Schedule II of the SEBI (Intermediaries) Regulations, 2008. This provision was updated in 2008, replacing the previous criteria set by the SEBI (Criteria for Fit and Proper Person) Regulations, 2004. The term "custodian" was updated in 2019 to replace "custodian of securities."