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TMI BlogDefinitionsX X X X Extracts X X X X X X X X Extracts X X X X ..... t-I AIF) means an Alternative Investment Fund registered under the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012 which raises money and invests in such funds or sectors or activities or areas in accordance with the said Regulations.] 30 [(iiA) convertible note means an instrument issued by a startup company evidencing receipt of money initially as debt, which is repayable at the option of the holder, or which is convertible into such number of equity shares of such startup company, within a period not exceeding five years from the date of issue of the convertible note, upon occurrence of specified events as per the other terms and conditions agreed to and indicated in the instrument.] 4 [iia. 'entity incorporated outside India means an entity incorporated/registered under the relevant statutes, laws of the host country.] 8 [(iib) 'preference shares' mean compulsorily and mandatorily convertible preference shares.] 9 [(iic) 'debenture' means compulsorily and mandatorily convertible debenture.] 20 [(iicc) 'Domestic Custodian' means a custodian of securities, an Indian depository, a depository participant, or a bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvIts) governed by the SEBI (InvIts) Regulations, 2014 and Alternative Investment Funds (AIFs) governed by the SEBI (AIFs) Regulations, 2012. ] iii. 'registered Foreign Institutional Investor (FII)' means the foreign institutional investor registered with SEBI 14 [Any foreign institutional investor who holds a valid certificate of registration from SEBI shall be deemed to be a registered foreign portfolio investor (RFPI) till the expiry of the block of three years]; 1 [iiia.'Foreign Venture Capital Investor' means an investor incorporated and established outside India which proposes to make investment in Venture Capital Fund(s) or Venture Capital Undertaking(s) in India and is registered with SEBI under SEBI (Foreign Venture Capital Investors) Regulations, 2000;] 6 [iii] (b) Foreign Central Bank means an institution/organization/body corporate established in a country outside India and entrusted with the responsibility of carrying out central bank functions under the law for the time being in force in that country.] iv. 'Government approval' means approval from the Secretariat for Industrial Assistance (SIA), Department of Industrial Policy and Promotion, Go ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at is compliant with the Financial Action Task Force (FATF) standards and is a signatory to the IOSCO's Multilateral Memorandum of Understanding (MMoU); and (ii) satisfied the KYC requirements stipulated by SEBI: Provided that such a person is not registered with SEBI as a Foreign Institutional Investor (FII) or Foreign Venture Capital Investor (FVCI). (b) With effect from 16th day of July, 2012, a person who satisfies the following criteria at the relevant time: (i) Resident in a country that is a member of FATF or a member of a group which is a member of FATF; and (ii) Resident in a country that is a signatory to IOSCO's MMoU (and referred to as Appendix A Signatories therein) or a signatory of a bilateral MoU with SEBI: Provided that the person is not resident in a country listed in the public statements issued by FATF from time to time on jurisdictions having strategic AML/CFT deficiencies to which counter measures apply or that have not made sufficient progress in addressing the deficiencies or have not committed to an action plan developed with the FATF to address the deficiencies: Provided that such person is not resident in India: Provided further that such person i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces or processes or (c) products or services or processes with no or limited incremental value for customers or workflow.] 22 [(xa) sweat equity shares means such equity shares as issued by a company to its directors or employees at a discount or for consideration other than cash, for providing their know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called;] xi. 'Transferable Development Rights (TDR)' shall have the same meaning as assigned to it in the Regulations made under sub-section (2) of section 6 of the Act; 24 [(xi A) Unit shall mean beneficial interest of an investor in the Investment Vehicle and shall include shares or partnership interests.] 1 [xia.'Venture Capital Fund' means a fund established in the form of a trust, a company including a body corporate and registered under the Securities and Exchange Board of India (Venture Capital Fund) Regulations, 1996 which has a dedicated pool of capital raised in a manner specified under the said Regulations and which invests in venture Capital Undertakings in accordance with the said Regulations;] Provided that the Foreign Venture Capital Inve ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... une 30, 2014 19. Deleted vide NOTIFICATION NO. 323/2014-RB , dated 17th October, 2014 before it was read as, Explanation: For the purpose of this regulation, the expressions, person , resident in India , non-resident shall have the same meaning as assigned to them in Section 2(u) , 2(v) and 2(w) of Foreign Exchange Management Act (FEMA), 1999 , respectively. 20. Inserted vide Not. 330/RB-2014 - Dated 15-12-2014 w.e.f. December 15, 2014 21. Inserted vide Not. 330/RB-2014 - Dated 15-12-2014 w.e.f. December 15, 2014 22. Inserted vide Not. 344/2015-RB - Dated 11-6-2015 23. Inserted vide Not. 355/2015-RB - Dated 16-11-2015 24. Inserted vide Not. 355/2015-RB - Dated 16-11-2015 25. Substituted vide Not. 361/2016-RB - Dated 15-2-2016 , before it was read as, 2 [(viia) NRI shall have the same meaning assigned to him under the Foreign Exchange Management (Deposit) Regulations, 2000. ] 26. Inserted vide Not. 362/2016-RB - Dated 15-2-2016 27. Inserted vide Not. 363/2016-RB - Dated 28-4-2016 28. Omitted vide Not. 363/2016-RB - Dated 28-4-2016 before it was read as, ' 11 [ (vb) Indian Depository Receipts (IDRs) shall have the meaning as assigned to it in the Companies (Issue of Indian Deposi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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