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of <h1>Procedure for refusing stock broker registration certificates: hearing, reasoned 30-day notice to exchange, reconsideration allowed, prompt decision required.</h1> Prescribes the procedure for refusal of a certificate of registration to a stock broker. SEBI may refuse grant of the certificate only after providing the applicant a reasonable opportunity of being heard, and must communicate the refusal with reasons to the applicant and the concerned recognized stock exchange within 30 days, thereby ensuring a recorded, time-bound decision with notice to the exchange. The applicant may seek reconsideration by applying within 30 days from receipt of the refusal communication, enabling review of the decision within a fixed limitation period. SEBI must reconsider such application and communicate its decision in writing as soon as possible to the applicant and the concerned recognized stock exchange, ensuring prompt finality and corresponding intimation to the exchange.
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