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Conditions of certificate.

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....quirement specified in regulation 7; ^2[(aa) it shall obtain prior approval of the Board in case of change in control in such manner as specified by the Board;] (b) it shall abide by the provisions of the Act and these regulations in the discharge of its functions as ^1[custodian] ; (c) it shall enter into a valid agreement with its client for the purpose of providing custodial services; ....

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