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TMI BlogRevision in framework for Qualified Foreign Investor (QFI) investment in Equity Shares and Mutual Fund schemesX X X X Extracts X X X X X X X X Extracts X X X X ..... ian equity shares subject to terms and conditions mentioned therein. Subsequently, vide SEBI circular CIR/IMD/FII C/4/2012 dated January 25, 2012, the eligibility criteria for a qualified DP was revised. 2. On a review and in consultation with the Government of India (GoI) and RBI, it has been decided to revise the definition of QFI as under: QFI shall mean a person who fulfils the following criteria: (i) Resident in a country that is a member of Financial Action Task Force (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 (Appendix A Signatories) or a signatory of a bilateral MOU with SEBI: Provided that the person is not resident in a country listed i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ir/IMD/FII C/3/2012 dated January 13, 2012 shall be substituted with the word Subscription . 4. Between clauses 8.6 and 8.7 of Circular dated January 13, 2012, clause 8.6.1 is inserted to read as under: 8.6.1. In case a person invests in the same company through both QFI route and FDI route, the aggregate holding of the person in such company shall not exceed five percent of paid up equity capital of the company at any point of time. This investment limit shall be applicable to each class of equity shares having separate and distinct ISIN. This shall be subject to guidelines on FDI as prescribed by GoI and RBI from time to time . 5. It has been decided to allow QFIs to make fresh purchases of eligible securities, out of the sale ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Is, shall, henceforth invest in all eligible securities through this single non- interest bearing Rupee Account. Circulars dated August 9, 2011, January 13, 2012, and January 25, 2012 respectively, stand amended as above. This circular is issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992, to protect the interests of investors in securities and to promote the development of, and to regulate the securities market. Yours faithfully, S MADHUSUDHANAN Deputy General Manager Tel No.: 022-26449614 Email: [email protected] - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanag ..... X X X X Extracts X X X X X X X X Extracts X X X X
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