The Securities and Exchange Board of India (SEBI) on August 10, 2023, issued the Securities and Exchange Board of India (Foreign Portfolio Investors) (Second Amendment) Regulations, 2023 to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019.
The following amendments have been stated:
• In regulation 4, in clause (f), the words “twenty-five per cent or more” shall be substituted with the words and symbol “more than the threshold prescribed under sub-rule (3) of rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005”.
• In regulation 22, after sub-regulation (5), the following sub-regulations shall be inserted, namely, -
“(6) A foreign portfolio investor that fulfils the criteria specified by the Board from time to time, shall provide information or documents in relation to the persons with any ownership, economic interest or control, in the foreign portfolio investor.
(7) The information or documents specified in sub-regulation (6) shall be provided in the manner as may be specified by the Board from time to time.”
They shall come into force on August 10, 2023.
[Notification No. SEBI/LAD-NRO/GN/2023/143]
