(1) Upon receipt of an application for allotment of unique identification number under these regulations, the Designated Service Provider shall, if the application is not found defective, allot to the applicant a unique identification number within thirty days of receipt of the application.
(2) Where it is found that any such application is defective, the Designated Service Provider may intimate the defect to the applicant and give it an opportunity to rectify the defect within a period of fifteen days from the date of such intimation or within such further period which the Board may allow on a request made in this behalf.
(3) Where any defect in the application is intimated under sub-section (2) and the defect is not rectified by the applicant within the said period of fifteen days or, as the case may be, further period allowed under sub-regulation (2), then, notwithstanding anything contained in any other provision of this Chapter, Designated Service Provider shall refer the application to the Board, which may either direct the Designated Service Provider to allot the unique identification number or reject the application after giving an opportunity to the applicant to make representations.
Criteria to determine specified intermediaries, specified listed companies and specified investors
14. For the purposes of specifying the intermediaries, listed companies or investors under subregulation (1) of regulation 4 or regulation 5 or sub-regulation (1) of regulation 6, the Board may take into consideration the following factors :
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(a) with regard to intermediaries or other entities-their kind and the nature of functions performed by them, their networth and other similar factors;
(b) with regard to listed companies or companies which intend to get their securities listed-their paid up capital, the number of their public shareholders, the volume of trading in their securities, the proposed issue size and other similar factors; and,
(c) with regard to investors - the quantum of investment made by them in the securities of any listed company or their volume of trading in securities in a particular financial year.
Duty not to make false statements and revocation of unique identification number