Securities and Exchange Board of India (Foreign Institutional Investors) (Third Amendment) Regulations, 1997 - S.O. No.823(E) - SEBI/LE/2214/97 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 5th December, 1997 S.O. 823(E).- In exercise of the powers conferred by sub-section (1) of section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995. 1. (i) These. Regulations may be called the Securities and exchange Board of India (Foreign Institutional Investors) (Third Amendment) Regulations, 1997. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. In the Securities and Exchange board of India (Foreign Institutional Investors) Regulations, 1995 (hereinafter referred to as the Regulations )- (a) in regulation 6, a new clause (f) shall be added, namely :- (f) whether the applicant is a fit and proper person. (b) in sub-regulation (1) of regulation 13, a new clause (bb) after clause (b) and before clause (c) shall be inserted, namely:- (bb) the applicant is a fit and proper person. (c) after clause (c) of sub regulation (3) of Regulation 15, a new clause (d) shall be added, namely:- (d) a Foreign Institutional Investor or a sub-account having an aggregate of securities which are worth rupees ten crore or more, as on the latest balance sheet date, shall, subject to such instructions as may be issued from time to time by the Board, settle their transactions entered on or after January 15; 1998, only through demateriatised securities [F. No. SEBI/LE/2214/97] D.R. MEHTA, Chairman Footnote :- (1) SEBI (Foreign Institutional Investors) Regulations, 1995 the principal regulation, was published in the Gazette of India on November 14, 1995, vide No. SEBI/LE/918 (E). (2) SEBI (Foreign Institutional Investors) Regulations, 1995 was amended by the SEBI (Foreign Institutional Investors) Amendment Regulations, 1996 which was published in the Gazette of India on October 9,1996, vide S.O. No. 702 (E). (3) SEBI (Foreign Institutional Investors) Regulations, 1995 was amended by the SEBI (Foreign Institutional Investors) (Second Amendment) Regulations, 1996 which was published in the Gazette of India on November 19, 1996, vide S.O. No. 799 (E). (4) SEBI (Foreign Institutional Investors) Regulations, 1995 was amended by the SEBI (Foreign Institutional Investors) Amendment Regulations, 1997 which was published in the Gazette of India on February 12, 1997, vide S.O. No. 105 (E). (5) SEBI (Foreign Institutional Investors) Regulations, 1995 was further amended by the SEBI (Foreign Institutional Investors) (Second Amendment) Regulations, 1997 which was published in the Gazette of India on July 10, 1997, vide S.O. No. 495 (E).