Stock broker registration: Board considers eligibility, infrastructure, experience, fit-and-proper status, net worth, certification, and director residency. Regulation 6 requires the Board to examine matters relevant to granting a stock broker certificate, including eligibility for exchange membership; adequate infrastructure and manpower; at least two years' securities trading experience; disciplinary or enforcement history affecting the firm or its key persons; fit and proper status under Schedule II of the Intermediaries Regulations; outstanding financial liabilities under relevant statutes; prescribed certification; minimum net worth and deposit compliance; and at least one designated director residing in India for not less than 182 days annually, with existing brokers given six months to comply with the residency requirement.