Transfer of business by registered intermediaries requires transferee registration and surrender obligations for transferors. Where a transferee is not registered in the same capacity it must obtain fresh registration from SEBI before transfer; SEBI will issue a new registration number to the transferee when business is transferred through regulatory or non regulatory processes irrespective of whether the transferor continues to exist. Change in control requires prior approval and fresh registration but retains the same registration number when granted to the same legal entity. If the transferor ceases to exist or completely transfers its business it must surrender its certificate of registration; partial transfers permit the transferor to continue holding its certificate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of business by registered intermediaries requires transferee registration and surrender obligations for transferors.
Where a transferee is not registered in the same capacity it must obtain fresh registration from SEBI before transfer; SEBI will issue a new registration number to the transferee when business is transferred through regulatory or non regulatory processes irrespective of whether the transferor continues to exist. Change in control requires prior approval and fresh registration but retains the same registration number when granted to the same legal entity. If the transferor ceases to exist or completely transfers its business it must surrender its certificate of registration; partial transfers permit the transferor to continue holding its certificate.
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