Regulation 8 - Conditions of certificate - Securities and Exchange Board of India (Foreign Venture Capital Investors) Regulations 2000

2 [ Conditions of certificate. 8.(1) The certificate granted to the foreign venture capital investor under regulation 7 shall be subject to the following conditions, namely:- (a) it shall abide by the provisions of the Act, and these regulations; (b) it shall appoint a domestic custodian for purpose of custody of securities; (c) it shall enter into arrangement with a designated bank for the purpose of operating a special non-resident rupee or foreign currency account; (2) The foreign venture capital investor shall provide necessary information sought by the designated depository participant to review the eligibility of the entity to hold the certificate of registration as a foreign venture capital investor. (3) If the foreign venture capital investor no longer satisfies the eligibility criteria under Regulation 4, the foreign venture capital investor shall inform the Board and designated depository participant in writing as soon as possible but not later than seven working days. (4) The designated depository participant shall ascertain whether the foreign venture capital investor satisfies the eligibility criteria in terms of provisions under Regulation 4, subject to conditions and in the manner specified by the Board from time to time. (5) The foreign venture capital investor which does not satisfy the criteria under Regulation 4, shall be dealt with in the manner specified by the Board from time to time. ] ************* NOTES:- 1 Substituted for fund by the SEBI (Foreign Venture Capital Investors) (Amendment) Regulations, 2001, w.e.f. 7-6-2001. 2. Substituted vide Notification No. SEBI/LAD-NRO/GN/2024/203 dated 04-09-2024 w.e.f. 01-01-2025 before it was read as, Conditions of certificate 8. The certificate granted to the foreign venture capital 1 [investor] under regulation 7 shall be inter alia, subject to the following conditions, namely:- (a) it shall abide by the provisions of the Act, and these regulations; (b) it shall appoint a domestic custodian for purpose of custody of securities; (c) it shall enter into arrangement with a designated bank for the purpose of operating a special non-resident rupee or foreign currency account. (d) it shall forthwith inform the Board in writing if any information or particulars previously submitted to the Board are found to be false or misleading in any material particular or if there is any change in the information already submitted.