The Securities and Exchange Board of India, (SEBI) on June 05, 2024, issued a Framework for providing flexibility to Foreign Portfolio Investors in dealing with their securities post expiry of their registration.
The following has been stated-
•In view of the amendments to the SEBI (FPI) Regulations, 2019 referred to at Para 2 above, the FPI Master Circular stands modified as follows:
•Para 4 Continuance of Registration of Part A of the FPI Master Circular stands modified.
•Para 13 Reclassification of Part A of the FPI Master Circular stands modified.
•Para 15 Change in Status of a Compliant Jurisdiction of Part A of the FPI Master Circular stands modified.
•The 17. Dealing with securities that may be held by FPIs after expiry of their registration and/or elapse of the time-period for disposal of securities and 18. Dealing with securities held by FPIs whose registration has expired is added after para 16 of Part A of the FPI Master.
•Reporting format at Annexure-1, in respect of the monthly report mentioned at Para 4.1 above, is included in Annexure M of the Custodian Master Circular.
•The provisions of this circular except para 3.5 shall come into force with immediate effect. Para 3.5 shall come into effect after 60 days from the date of this circular.
[Notification No. SEBI/LAD-NRO/GN/2024/176]
