Rejection of application
Regulation 14
Rejection of application
IFSCA (Fund Management) Regulations, 2025No change in 2026Chapter II · Registration of Fund Management Entity (FME)
Chapter II · Registration of Fund Management Entity (FME)
Regulation 14 – Rejection of application
Medium importance about 3 min
Becoming an FME: Registration categories, legal form, track record, key personnel, net worth and fit-and-proper.
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In plain English
If the Authority forms the view that registration cannot be granted, it must communicate the deficiencies and give 30 days to rectify. If not rectified to its satisfaction, it may refuse registration with reasons.
In plain English
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The rule, in its own words
Read the exact text of Regulation 14
14. (1) If the Authority, after examination of the application, is of the opinion that the registration cannot be granted, it shall communicate the deficiencies to the Applicant giving it thirty (30) days' time to rectify them.
(2) If the Applicant fails to rectify such deficiencies to the satisfaction of the Authority within the specified time, the Authority may dispose of the application refusing to grant registration and shall communicate the same to the Applicant, giving reasons for such refusal.
Statutory text — Principal Regulations, 2025 (as amended to 30 January 2026), consolidated where amended. The notified Gazette text prevails. Tap a highlighted word for how it functions.
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What this means in practice
Compliance actions
- Applies to
- Applicant FME
- Frequency
- Event-driven
- Timing
- 30 days to rectify deficiencies
- Evidence
- Deficiency letter and rectification response
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Where it connects
Read alongside
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Check yourself
Quiz Centre
Test yourself on Regulation 14
4 questions in the unified bank test this regulation. Each explains every option and cites the provision.
If the Authority finds registration cannot be granted, how long must the applicant be given to rectify deficiencies?
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Your notes
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