Securities and Exchange Board of India (Foreign Institutional Investors) (Second Amendment) Regulations, 2006 S.O No. 1332 (E). In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995, namely :- 1. These Regulations may be called the Securities and Exchange Board of India (Foreign Institutional Investors) (Second Amendment) Regulations, 2006. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995 -
(i) in regulation 6, in sub-regulation (1), in clause (d) – (a) sub-clause (i) shall be substituted with the following, namely: “(i) an institution established or incorporated outside India as a pension fund, mutual fund, investment trust, insurance company or reinsurance company;” (b) after sub-clause (i), the following sub-clause shall be inserted, namely: “(i-a) a International or Multilateral Organisation or an agency thereof or a Foreign Governmental Agency or a Foreign Central Bank;” (c) sub-clause (ii) shall be substituted with the following, namely: “(ii) an asset management company, investment manager or advisor, nominee company, bank or institutional portfolio manager, established or incorporated outside India and proposing to make investments in India on behalf of broad based funds and its proprietary funds, if any;” (ii) in regulation 12, for sub-regulation (3), the following sub-regulation shall be substituted, namely: “(3) An application for registration as sub-account shall be made in Form AA.”
(iii) in regulation 13, in sub-regulation (1) –
(a) clause (e) shall be substituted with the following, namely: “(e) the applicant and the Foreign Institutional Investor through whom the application for registration is made, have submitted joint undertakings as required by Form AA of the First Schedule;” (b) clause (ee) shall be omitted; (iv) in the First Schedule, for Form A, the following forms shall be substituted, namely:
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