Section 16: Extension of registration

The Authority shall through issue of a notice published in the leading newspaper initiate process for fresh registration of a central recordkeeping agency in accordance with these regulations, prior to ninety days or at such other time as may be specified before the date of expiry of tenure of the central recordkeeping agency or may extend the tenure of such agency, for such period, as it may be determined in the interest of the subscribers. Such extension shall be granted for reasons to be recorded in writing. Any extension granted to the central recordkeeping agency upon expiry of tenure of registration shall be binding on the central recordkeeping agency and it shall discharge its functions in accordance with the terms of such extension.