(1) On and from the commencement of these regulations, any individual, firm or a corporate body or any registered trust or society, acting as a retirement adviser or desirous of acting as such or holding himself or itself out as a retirement adviser by providing or disseminating advice in any manner, either oral or in writing on National Pension System (NPS) or any pension scheme regulated by the Authority, to any potential or existing subscriber, with the object of facilitating opening of new accounts or offering advisory services to existing subscribers, shall obtain a certificate of registration to act as a retirement adviser from the Authority as provided under these regulations :
(2) An application for grant of certificate of registration shall be made in Form A as specified in the First Schedule to these regulations and shall be accompanied by a non-refundable application fee to be paid in the manner specified in Second Schedule.