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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

SEBI (Foreign Portfolio Investors) (Second Amendment) Regulations, 2021

26-Oct-2021 | No. SEBI/LAD-NRO/GN/2021/54.

SEBI has notified (Foreign Portfolio Investors) (Second Amendment) Regulations, 2021. The amendment is made in regulation 4. After the first proviso, the following proviso has been inserted- "Provided further that resident Indian, other than individuals, may also be constituents of the applicant, subject to the following conditions, namely " i. the applicant is an Alternative Investment Fund set up in the International Financial Services Centres and regulated by the International Financial Services Centres Authority; ii. such resident Indian, other than individuals, is a Sponsor or Manager of the applicant; and iii. the contribution of such resident Indian, other than individuals, shall be up to a. 2.5% of the corpus of the applicant or US $ 7,50,000 (whichever is lower), in case the applicant is a Category I or Category II Alternative Investment Fund; or b. 5% of the corpus of the applicant or US $ 1.5 million (whichever is lower), in case the applicant is a Category III Alternative Investment Fund.

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