Securities And Exchange Board of India (Portfolio Managers) Regulations, 2020

Chapter: I
PRELIMINARY
Regulation 1	:	Short title and commencement
Regulation 2	:	Definitions
Chapter: II
REGISTRATION OF PORTFOLIO MANAGERS
Regulation 3	:	Registration as portfolio manager
Regulation 4	:	Application for grant of certificate
Regulation 5	:	Application to conform to the requirements
Regulation 6	:	Furnishing of further information, clarification and personal representation
Regulation 7	:	Consideration of application
Regulation 8	:	Criteria for fit and proper person
Regulation 9	:	Net worth Requirement
Regulation 10	:	Procedure for registration
Regulation 11	:	Conditions of registration
Regulation 12	:	Period of validity of certificate
Regulation 13	:	Procedure where registration is refused
Regulation 14	:	Effect of refusal to grant certificate
Regulation 15	:	Payment of fees, and the consequences of failure to pay fees
Chapter: III
ELIGIBLE FUND MANAGERS
Regulation 16	:	Applicability
Regulation 17	:	Procedure to be followed by an existing Portfolio Manager
Regulation 18	:	Procedure to be followed by an applicant for fresh registration
Regulation 19	:	Obligation and Responsibilities of Eligible Fund Managers
Regulation 20	:	Certain provisions not to apply
Chapter: IV
GENERAL OBLIGATIONS AND RESPONSIBILITIES
Regulation 21	:	Code of Conduct
Regulation 22	:	Contract with clients and disclosures
Regulation 22A	:	Dispute Resolution
Regulation 23	:	General responsibilities of a Portfolio Manager
Regulation 24	:	Management or administration of clients' portfolio
Regulation 25	:	Foreign Portfolio Investor availing portfolio management services
Regulation 26	:	Appointment of custodian
Regulation 27	:	Maintenance of books of accounts, records, etc
Regulation 28	:	Submission of net worth certificate
Regulation 29	:	Maintenance of books of accounts, records and other documents
Regulation 30	:	Accounts and audit
Regulation 31	:	Reports to be furnished to the client
Regulation 32	:	Report on steps taken on Auditor's report
Regulation 33	:	Disclosures to the Board
Regulation 34	:	Appointment of compliance officer
Regulation 34A	:	Grievance Redressal Mechanism
Chapter: V
INSPECTION AND DISCIPLINARY PROCEEDINGS
Regulation 35	:	Right of inspection by the Board
Regulation 36	:	Notice before inspection
Regulation 37	:	Obligations of Portfolio Manager on inspection
Regulation 38	:	Submission of report to the Board
Regulation 39	:	Action on inspection or investigation report
Regulation 40	:	Appointment of Auditor
Chapter: VI
PROCEDURE FOR ACTION IN CASE OF DEFAULT
Regulation 41	:	Liability for action in case of default
Regulation 42	:	Repeal and Savings
Chapter: VI-A
POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS
Regulation 42A	:	Exemption from enforcement of the regulations in special cases
Chapter: VII
MISCELLANEOUS
Regulation 43	:	Power of the Board to issue clarifications
SCHEDULE
Schedule - I	:	Application for grant of certificate of registration
Schedule - II	:	Fees
Schedule - III	:	Code of conduct- Portfolio Manager
Schedule - IV	:	Contents of agreement between the Portfolio Manager and his Clients
Schedule - V	:	Disclosure Document
Schedule - VI	:	Declaration for Eligible Fund Managers [Chapter III]