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<h1>Registration refusal procedure: board must notify grounds and provide an opportunity for reconsideration within prescribed period.</h1> Where an application for a certificate of registration does not meet prescribed requirements, the Board may reject it after giving a reasonable opportunity of being heard. The Board must communicate the refusal in writing to the applicant and the concerned stock exchange, stating the grounds for rejection within a specified period. An aggrieved applicant may apply for reconsideration within a prescribed period, and the Board must reconsider and communicate its decision in writing to both the applicant and the exchange.