Know Procedure to Register as Registrar and Share Transfer Agent by SEBI

Registration as Registrar to an Issue and Share Transfer Agent

1. Application to be made in Form A
2. Application to be accompanied by Non-refundable Fee of Rs. 20,000 – Refer Note Number1
3. Types of Application:
4. a) Category I: As a registrar carries on the activities for issuing and sharing transfer agents.
   b) Category II: to take on the exercise as a registrar to an issue or as a share transfer agent
5. Board might be needed to provide the clarification and might need personal representation as well.
6. Recognise the application: the board will consider the grant of the certificate towards all concerns which are related to the activities and in particular as if the petitioner:

• Poses important infrastructure like adequate office area, equipment, and manpower to relieve the activities.
• Poses any other experience in the past in activities.
• Any individual directly or indirectly linked through him has not permitted enrollment through the board beneath the act.
• Fulfills the capital capacity needs to be defined in regulation 7
• Entitled to any statutory proceedings beneath the act.
• Or any of its director, partner, or principal officer gets sentenced for any breach engaging moral turpitude or seems to be guilty of any economic offense.
• Is a fit and decent individual.

Capital Adequacy needs net worth of petitioner as follows- Net worth- Refer Note No. 02

• a) Category I- 50,00,000
• b) Category II- 25,00,000

7. Grant of Certificate of reg in Form B, is legitimate unless it gets suspended or revoked by the council.

8. Conditions of Registrations- grant of the conditions is towards the mentioned conditions:

• In which the registrar to an issue or share transfer agent urged to amend the control it will obtain before approval of the board for continuing to act post to the amendment.
• It will enter into the legally binding agreement through the body corporate or the individual or group of people for and upon whose side it is acting as a registrar to the issue or a share transfer agent telling their allocation of duties and the responsibilities amid itself and these councils or individuals or groups.
• It will furnish the fees for enrollment in the manner given under the law.
• Maintain the needs of capital adequacy.
• Choose enough steps for the redressal of injustice in 1 month of the receipt date of the complaint and keep the board informed for the number, nature, and the other things of the complaints obtained and the way in which these complaints have been redressed.
• Under the law, it will obey the rules towards the activities carried on by it as a registrar to an issue or a share transfer agent.
• It will quickly suggest the board information of amendment that has taken place in the details which were furnished beside urging for the registration.

9. The council might refuse to provide the enrollment if the conditions mentioned will not clarify the provided opportunity of being heard.

10. Registrar to an issue not to take upon these for an associate.-No registrar to an issue will act as such registrar for any issue of the securities for the case he or she is an associate of the council corporate providing the securities (Associate meaning- refer note no. 03).

11. Regular maintenance of the account records, Appointment of Compliance Officer and Auditor.

Note No. 01- Registration Fees

• A registrar to an issue and share transfer agent (category I)- Rs. Six lacs
• A registrar to an issue and share transfer agent (category II)- Rs. Two lacs
• The registrar to an issue along with the share transfer agent to which the registration certificate has been given to keep to pose out the enrollment in force will furnish the enrollment fees in every 3 years from the 6th year since the grant date of the registration certificate or from the grant date of the certificate of initial enrollment provided.
• Before the start of the SEBI procedure to Register as Registrar & Share Transfer Agent
• The enrollment fee will be furnished through the registrar to an issue and share transfer agent in 15 days from the receipt date of details by the Board.

Note No. 02

• Proprietary discussion or the company or an association of the individual or anybody of the individual’s value of the capital distributed to these businesses through the petitioner and the free reserve of any type of business relating to the petitioner.
• Body corporate- The value of paid up capital and free reserve or as published in the books of accounts of the petitioner at the time of creating the application beneath sub-regulation (1) of regulation.

Note No. 03- Associate Meaning

1. He or she regulates directly or indirectly not lower than 10% of the voting power of the administration or of the registrar to an issue, according to the case.
2. If he or his relative are director or promoter of the administration or of the registrar to an issue, as per the mentioned case.