Notification of the Securities and Exchange Board of India (Foreign Portfolio Investors) (Second Amendment) Regulations, 2021 (dated – 26.10.2021) – SEBI.
View PdfNotification of the Securities and Exchange Board of India (Foreign Portfolio Investors) (Second Amendment) Regulations, 2021 (dated – 26.10.2021) – SEBI.
- In the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019,
- This notification has come into effect from 26.10.2021.
- In clause (c) of regulation 4,
- In clause (ii) of the first proviso, the symbol “;” shall be substituted with the symbol “:”.
- After the first proviso, the following proviso shall be inserted, namely,
- “Provided further that resident Indian, other than individuals, may also be constituents of the applicant, subject to the following conditions, namely the applicant is an Alternative Investment Fund setup in the International Financial Services Centres and regulated by the International Financial Services Centres Authority;
- Such resident Indian, other than individuals, is a Sponsor or Manager of the applicant; and the contribution of such resident Indian, other than individuals, shall be up to.
- 2.5% of the corpus of the applicant or US $ 7,50,000 (whichever is lower), in case the applicant is a Category I or Category II Alternative Investment Fund; or
- 5% of the corpus of the applicant or US $ 1.5 million
- (whichever is lower), in case the applicant is a Category III Alternative Investment Fund;”
