TaxTMI 
TaxTMI 
Consideration of application for grant of certificate of initial registration.
X X X X Extracts X X X X
X X X X Extracts X X X X
....ial] registration, the Board shall take into account all matters which are relevant to or relating to the efficient and orderly functioning of a participant and in particular, whether the applicant complies with the following requirements, namely :- (a) the applicant belongs to one of the following categories,- (i) a public financial institution as defined in section 4A of the Companies Act,....
X X X X Extracts X X X X
X X X X Extracts X X X X
....s been granted a certificate of registration by the Board under sub-section (1) of section 12 of the Act : ^4[Provided that the stock broker shall have a minimum net worth of rupees 50 lakhs and the aggregate value of portfolio of securities of the beneficial owners held in dematerialised form in a depository through him, shall not exceed ^5[100 times of the net worth of the stock broker]: P....
X X X X Extracts X X X X
X X X X Extracts X X X X
....if it has a net worth of Rs. 50 crore in addition to the net worth specified by any other authority;] ^8[(x) a registrar to an issue or share transfer agent who has a minimum net worth of ^9[rupees ten crores] and who has been granted a certificate of registration by the Board under sub-section (1) of section 12 of the Act; ^10[***]] (b) the applicant is eligible to be admitted as a parti....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... (Depositories and Participants) (Amendment) Regulations, 2003, w.e.f. 16-6-2003. 7 Inserted by the by the SEBI (Depositories and Participants) (Amendment) Regulations, 1997, w.e.f. 7-2-1997. 8 Inserted by the SEBI (Depositories and Participants) (Amendment) Regulations, 1999, w.e.f. 20-5-1999. 9 Substituted for "50 lakhs" by the SEBI (Depositories and Participants) (Amendment) Regulation....