(1) Subject to compliance with the provisions of the Act, the rules and regulations, the certificate granted to a central recordkeeping agency shall remain valid for a period of ten years from the date of grant of registration, or such other term, as specified, unless suspended or cancelled by the Authority. On the expiry of the tenure of the registration or in the event of cancellation, the National Pension System Trust shall at least thirty days before the date of cancellation, deliver to the central recordkeeping agency, instructions as to the disposal or transfer of the information and regulated assets held by it.
(2) The tenure of registration of the central recordkeeping agency shall be brought to an end if central recordkeeping agency contravenes any of the conditions or clauses specified in the certificate of registration.