Capital requirement

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....lfill the net worth requirements under these regulations, separately and independently, of the capital adequacy requirements, if any, for each activity undertaken by it under the relevant regulations. Provided further that a custodian, who was granted a certificate of registration prior to the commencement of the Securities and Exchange Board of India (Custodian) (Amendment) Regulations, 2....

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....r Foreign Institutional Investors dated September 14, 1992, even if it does not have the net worth specified in sub-regulation (1) may continue to function as a ^2[custodian] and shall within a period of one year from the date of commencement of these regulations raise its net worth to that specified in sub-regulation (1): ^1[Provided that the period specified above may be extended by the....