Change in status of sub brokers requires prior approval, coordinated surrender or fresh registration, and liability undertakings. Procedures require prior SEBI approval and payment of prescribed fees for changes in status or constitution of sub brokers; prior approval lasts six months during which the outgoing sub broker must apply for surrender and the surviving/incoming sub broker must seek fresh registration, both filed through the Exchange with recognition/de recognition letters and a joint undertaking accepting liability for pre change obligations. Surrender applications must include the Exchange's de recognition letter, disabling certificate, two public advertisements, original registration certificate, fees, and an undertaking, and Exchanges must forward such applications to SEBI with confirmations on pending proceedings and fee payment.