law: The Pension Fund Regulatory and Development Authority Act, 2013
  21.
  
     Central
  
  Recordkeeping Agency.
  1.   The Authority shall,
  
  by granting a certificate of registration under sub-section ( 3 ) of
  
  section 27, appoint a central recordkeeping agency:
  Provided that the Authority may, in public interest, appoint more than one central recordkeeping
  
  agency.
  1.  
  2.   The central
  
  recordkeeping agency shall be responsible for receiving instructions from
  
  subscribers through the points of presence, transmitting such instructions to
  
  pension funds, effecting switching instructions received from subscribers and
  
  discharging such other duties and functions, as may be assigned to it under the
  
  certificate of registration or as may be determined by regulations.
  3.   All the assets and
  
  properties owned, leased or developed by the central recordkeeping agency,
  
  shall constitute regulated assets and upon expiry of certificate of
  
  registration or earlier revocation thereof, the Authority shall be entitled to
  
  appropriate and take over the regulated assets, either by itself or through an
  
  administrator or a person nominated by it in this behalf:
  Provided that the central recordkeeping agency shall be entitled to be compensated the
  
  fair value, to be ascertained by the Authority, of such regulated assets as may
  
  be determined by regulations:
  Provided
  
  further that where the earlier revocation of the certificate of registration is
  
  based on violation of the conditions in the certificate of registration or the
  
  provisions of this Act or regulations, unless otherwise determined by the
  
  Authority, the central recordkeeping agency shall not be entitled to claim any
  
  compensation in respect of such regulated assets.