The Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019

Dec 23, 2019 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Securities and Exchange Board of India (SEBI) on December 19, 2019, notifies the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2019 to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019. 

The followings are the amendment made in the SEBI (Foreign Portfolio Investors) Regulations, 2019:-

1. The definition made under Regulation 2(1)(n) related to “non-resident Indian” and “overseas citizen of India” shall be same meaning as mentioned under Rule 2 of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 made under the Foreign Exchange Management Act, 1999.

2. In Regulation 20(8) related to “Investment restrictions” has been substituted stating that an entity registered as a foreign portfolio investor shall be permitted to invest in Indian securities as a person resident outside India in accordance with provisions of the Foreign Exchange Management Act, 1999, rules and regulations made thereunder.

3. Regulation 20(9) has been omitted,

“In cases where the Government of India enters into agreements or treaties with other sovereign Governments and where such agreements or treaties specifically recognize certain entities to be distinct and separate, the Board may, during the validity of such agreements or treaties, recognize them as such, subject to conditions as may be specified by it”.

These Regulations shall come into force on the date of their publication in the Official Gazette that is December 19, 2019.

[Notification No. SEBI/LAD-NRO/GN/2019/44]


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