Regulation 13A - Responsibility of foreign institutional investors. - Securities And Exchange Board of India (Foreign Institutional Investors) Regulations, 1995

1 [Responsibility of foreign institutional investors. 13A. (1) A foreign institutional investor shall be responsible and liable for all acts of commission and omission of all its sub-accounts and other deeds and things done by such sub-accounts in their capacity as sub-accounts under these regulations. (2) Nothing contained in sub-regulation (1) shall be deemed to detract from any responsibility or liability of the sub-account under these regulations or under any other law for the time being in force. (3) Sub-regulation (1) shall have effect irrespective of whether the foreign institutional investor exercises discretion in respect of funds of the subaccount or not.] ---------------- Notes: 1. Regulation 13A inserted by the SEBI (Foreign Institutional Investors) (Amendment) Regulations, 2008, w.e.f.22-5-2008