Registration criteria for vault managers require eligibility, infrastructure, approvals, competent staff, SOP and fit and proper compliance. Grant of registration requires the Board to assess whether the applicant meets the net worth requirement, has requisite infrastructure and approvals, employs competent personnel, and has prepared a Standard Operating Procedure (SOP). The Board also considers other business activities, prior refusal or cancellation of registration, involvement in regulatory proceedings, and whether grant is in the interest of investors. Regulation 6(2) provides that the Board will not consider an application unless the applicant meets the requirements of Regulation 4.
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Provisions expressly mentioned in the judgment/order text.
Registration criteria for vault managers require eligibility, infrastructure, approvals, competent staff, SOP and fit and proper compliance.
Grant of registration requires the Board to assess whether the applicant meets the net worth requirement, has requisite infrastructure and approvals, employs competent personnel, and has prepared a Standard Operating Procedure (SOP). The Board also considers other business activities, prior refusal or cancellation of registration, involvement in regulatory proceedings, and whether grant is in the interest of investors. Regulation 6(2) provides that the Board will not consider an application unless the applicant meets the requirements of Regulation 4.
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