Securities And Exchange Board Of India (Foreign Institutional Investors) (Second Amendment) Regulations, 1996. - S.O. No.799(E) - SEBI/LE-V(2)/254/96 - SEBI

SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 19th November, 1996 S.O. No.799 (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 amend the SEBI (Foreign Institutional Investors) Regulations, 1995. 1. (i) These regulations may be called the SEBI (Foreign Institutional Investors) (Second Amendment) Regulations, 1996. (ii) They shall come into force on the date of their publication in the Official Gazette. 2. After sub-regulation (2) of Regulation 15 of the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995 two provisos shall be added as follows :- Provided that nothing contained in sub-regulation (2) shall apply to any investment of the foreign institutional investor either on its own account or on behalf of its sub-accounts in debt securities which arc listed or to be listed on any stock exchange if the prior approval of the Board has been obtained for such investments. Provided further that the Board may while granting approval for the investments impose conditions as are necessary with respect to the maximum amount which can be invested in the debt securities by the foreign institutional investor on its own account or through its sub-accounts. [F. No. SEBI/LE-V(2)/254/96] D.R. MEHTA, Chairman