Regulation 2 - Definitions - Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014

Definitions. 2. (1) In these regulations, unless the context otherwise requires, the terms defined herein shall bear the meanings assigned to them below, and their cognate expressions and variations shall be construed accordingly,- (a) Act means the Securities and Exchange Board of India Act, 1992; (b) Board means the Securities and Exchange Board of India established under section 3 of the Act; (c) certificate means a certificate of registration granted to a foreign portfolio investor by the designated depository participant on behalf of the Board under these regulations; 2 [ (ca) control includes the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of shareholding or management rights or shareholders agreements or voting agreements or in any other manner; ] (d) custodian of securities means a person registered under the Securities and Exchange Board of India (Custodian of Securities) Regulations, 1996; (e) designated bank means a scheduled bank in India, which has been authorized by the Reserve Bank of India to act as a banker to foreign portfolio investors; (f) designated depository participant means a person who has been approved by the Board under Chapter III of these regulations; (g) foreign institutional investor means an institution who is registered under the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995; (h) foreign portfolio investor means a person who satisfies the eligibility criteria prescribed under regulation 4 and has been registered under Chapter II of these regulations, which shall be deemed to be an intermediary in terms of the provisions of the Act: Provided that any foreign institutional investor or qualified foreign investor who holds a valid certificate of registration shall be deemed to be a foreign portfolio investor till the expiry of the block of three years for which fees have been paid as per the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995; (i) Form means a form specified in the First Schedule to these regulations; 3 [ (ia) Investment Manager means an entity performing the role of investment management, investment advisory or any equivalent role, including trustees; ] (j) offshore derivative instrument means any instrument, by whatever name called, which is issued overseas by a foreign portfolio investor against securities held by it that are listed or proposed to be listed on any recognised stock exchange in India, 1 [or unlisted debt securities or securitised debt instruments,] as its underlying; (k) qualified depository participant means a depository participant approved by the Board to act as qualified depository participant; (l) qualified foreign investor means a person who has opened a dematerialized account with a qualified depository participant as a qualified foreign investor; (m) Schedule means a schedule to these regulations; (n) sub-account means a person who is registered under the Securities and Exchange Board of India (Foreign Institutional Investor) Regulations, 1995. (2) Words and expressions used and not defined in these regulations, but defined in the Act or the Companies Act, 2013, the Securities Contracts (Regulation) Act, 1956, the Depositories Act, 1996 or the rules and regulations made thereunder shall have the same meaning respectively assigned to them in those Acts or rules or regulations or any statutory modification or re-enactment thereto. ************* NOTES:- 1 Inserted by the Securities and Exchange Board of India (Foreign Portfolio Investors) (Second Amendment) Regulations, 2017, w.e.f. 27-2-2017. 2. Inserted vide Notification No. SEBI/LAD-NRO/GN/ 2018 /58 dated 31-12-2018 3. Inserted vide Notification No. SEBI/LAD-NRO/GN/ 2018 /58 dated 31-12-2018