SEBI: Procedure/ Steps for Register as Registrar & Share Transfer Agent

Registration as Registrar to an Issue and Share Transfer Agent

1. Application to be executed in Form A

2. Application to be completed by Non-refundable Fee of Rs. 20,000/- Refer Note Number 1

3. Kind of Application:

• a) Category I: To continue upon the activities as a registrar to an issue and share transfer agent. Hire SEBI authorized RTA Agent.
• b) Category II: To continue on the activity either as a registrar to an issue or as a share transfer agent.

4. Board might need to file another clarification and need personal representation.

5. Consideration of application: The board will avail to acknowledge the allotment of the certificate in all cases that are concerned with the operations along with the particulars the following, namely, that if the applicant:

• Poses the important infrastructure such as enough space in offices, equipment and the man-power to successfully relieve his activities.
• Poses any previous experience in the activities:
• Any people who directly or indirectly linked with him do not allow the registration through the board beneath the act.
• Furnishes the need for capital as mentioned in regulation 7.
• Entitled to any disciplinary proceedings beneath the act.
• Or any principal officer, partner or director gets involved and convicted for fraud and offence
• The individual must be fit towards the same.

Capital Adequacy need- Net worth of applicant mentioned as follows:- Net worth- Refer Note No. 02

1. Category I- 50,00,000/
2. Category II- 25,00,000/

6. Provide the certificate of reg in Form B this will be verified until it gets restricted or refused through the board.

7. Guidelines of the registrations: Allow the guidelines which are entitled to the mentioned rules:

• In which the registrar provides or a share transfer agent has an intention to amend the control this will pose the permission from the board to proceed to act like these posts to the rectification.
• This enters into the legally binding agreement to the council or individual or groups of individuals for or upon which individual he acts as a registrar towards the issue or a share transfer agent mentioning the allocation of the jobs among itself and these council or individual or group of individual, according to the case:
• It furnishes the registration fees towards the case mentioned inside the guidelines
• It sustains the capital adequacy needs
• Choose the procedure for the redressal of grievances of the investors under a month of the receipt date of the complaint and maintain that the board is aware of the number, nature, and other particulars of the accusations obtained and the way these accusations are resolved.
• This will continue under the rules executed through the act towards the operations continued through it as a registrar to an issue or a share transfer agent.
• This will quickly tell the board about the revisions which have been executed in the information that was furnished while asking for the registration.

8. Board might not accept the registration if the conditions mentioned do not fulfill the post to provide the opportunity of being heard.

9. Registrar to an issue not to act as such for an associate: No registrar to an issue will act as this registrar for any securities issue towards the concern that he or she is an associate of the body corporate providing the securities. (Associate meaning- refer note no. 03).

10. Keep the proper books of accounts, the 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
• A registrar to issue and share transfer agent and permit the certificate of registration, to keep its registration in force, shall pay registration fees, every three years from the 6th year, from the date of permission of the certificate of the initial registration provided.
• Before the start of the SEBI.
• The registration fee will be furnished through the registrar to an issue and share transfer agent in 15 days from the date of information receipt obtained through the council.

Note no. 02

• Proprietary concern or a firm or the company of the individual or any council of people: Value of capital attributed to every business through the applicant and the free reserve of any type which is related to the business of the applicant.
• Body corporate: Inside the accounts of the applicant the paid-up capital value and the free reserve is provided during the application building beneath sub-regulation (1) of regulation.

Note no. 03- Associate meaning

1. The person or it regulates directly or indirectly not below 10% of the voting power of the council or of the registrar towards the issue or of the registrar to an issue, according to the case
2. The person or any other of his relatives is the director or promoter of the council or of the registrar to the issue according to the case.