The Securities and Exchange Board of India (SEBI) on June 03, 2024, issued the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2024, to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019.
The following amendments have been stated:
• In regulation 7, which states “Certificate of registration”, in sub-regulation (5), the proviso shall be substituted with the following namely:
o “Provided that a foreign portfolio investor, whose certificate of registration is not valid as on the date of commencement of the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2024 and is holding securities or derivatives in India, shall be allowed to sell such securities or wind up their open position in derivatives in India within 360 days from the date of commencement of the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2024, in the manner specified by the Board.”
• In regulation 9, which states “Suspension, cancellation or surrender of certificate”, in sub-regulation (3), the following shall be inserted, namely:
o “Explanation: For the purpose of this sub-regulation, a foreign portfolio investor who has paid the registration fee and the late fee in accordance with sub-regulation (6) of regulation 7 shall be considered to have paid the required fees within the specified due date.”
This notification will come into force from June 03, 2024.
[Notification No SEBI/LAD-NRO/GN/2024/183]
