Conditions of certificate

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....ading in any material particular ; or (ii) has undergone change subsequently to its furnishing at the time of the application for a certificate; the credit rating agency shall forthwith inform the Board in writing ^5[;] ^6[****] ^7[(c) where the credit rating agency proposes ^8[change in control], it shall obtain prior approval of the Board for continuing to act as such after the change.] ^9[(d) the credit rating agency shall at all times maintain a minimum net worth of rupees twenty five crore. Provided that a credit rating agency already registered with the Board under Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999, having a net worth less than rupees....

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....rever specified by the financial sector regulator or authority and shall be under the purview of the respective financial sector regulator or authority.] ^16[****]]]     ************ NOTES:- 1 The words "and validity period" omitted by the SEBI (Credit Rating Agencies) (Amendment) Regulations, 2011 w.e.f. 05.07.2011 2 Numbering of sub-regulation (1) omitted by the SEBI (Credit Rating Agencies) (Amendment) Regulations, 2011 w.e.f. 05.07.2011 3 The words "or 8A" omitted by the Securities and Exchange Board of India (Change In Conditions Of Registration Of Certain Intermediaries) (Amendment) Regulations, 2016 w.e.f. 08-12-2016. Prior to this the words "or 8A" were inserted by the SEBI (Credit Ra....

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....of two years from the date of notification of Securities and Exchange Board of India (Credit Rating Agencies)(Amendment) Regulations, 2018" 11. Substituted vide Notification No. SEBI/LAD-NRO/GN/2021/29 dated 03-08-2021 before it was read as "offered by way of public or rights issue" 12. Inserted vide Notification No. SEBI/LAD-NRO/GN/2021/29 dated 03-08-2021 13. Inserted vide Notification No. SEBI/LAD-NRO/GN/2022/69 dated 24-01-2022 14.  Substituted vide Notification No. SEBI/LAD-NRO/GN/2026/293 dated 13-01-2026 before it was read as, "Nothing contained in these regulations shall preclude a credit rating agency from ^13[carrying out any activity as may be specified by the Board or] ....