Custodian registration conditions require capital compliance, prior approval for control changes, client agreements, fee payment, and disclosure duties. A custodian's certificate is subject to continuing conditions, including meeting the prescribed capital requirement before commencing operations, obtaining prior approval for a change in control, complying with the Act and regulations, entering into valid client agreements, paying prescribed monthly fees, and promptly informing the Board of any material falsehood, misleading information, or change in previously furnished information. The custodian may also carry on activities relating to rendering of financial services, subject to specified conditions where it is not a banking company or related entity.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Custodian registration conditions require capital compliance, prior approval for control changes, client agreements, fee payment, and disclosure duties.
A custodian's certificate is subject to continuing conditions, including meeting the prescribed capital requirement before commencing operations, obtaining prior approval for a change in control, complying with the Act and regulations, entering into valid client agreements, paying prescribed monthly fees, and promptly informing the Board of any material falsehood, misleading information, or change in previously furnished information. The custodian may also carry on activities relating to rendering of financial services, subject to specified conditions where it is not a banking company or related entity.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
