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TMI BlogSecurities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2016X X X X Extracts X X X X X X X X Extracts X X X X ..... ations may be called the SEBI (Portfolio Managers) (Amendment) Regulations, 2016. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993,- I. in regulation 6, in sub-regulation (2), in clause (c),- (a) in sub-clause (ii), the symbol . shall be substituted for the symbol and words ; or ; (b) after sub-clause (ii) the following sub-clause shall be inserted, namely:- (iii) a CFA charter from the CFA Institute. II. after Chapter II and before Chapter III, the following Chapter shall be inserted, namely,- CHAPTER II -A ELIGIBLE FUND MANAGERS Definitions 12A. For the purposes of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tration under regulation 8 if: a) it fulfills all the conditions specified in sub section (4) of Section 9A of the Income-tax Act, 1961; b) it complies with the requirements specified under Chapter II of these regulations, unless specified otherwise in this Chapter; c) it pays the fees as specified in Schedule II; and d) it provides a declaration to the Board as specified in clause (2) of Schedule VI. Obligation and Responsibilities of Eligible Fund Managers 12E. An eligible fund manager shall be required to: (1) comply with the requirements specified under Section 9A of the Income-tax Act, 1961 or any amendment, notification, clarification, guideline issued thereon; (2) offer discretionary or non-discretionary o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2F. The eligible fund managers shall be exempted from the following provisions pertaining to their activities as portfolio managers to eligible investment funds notwithstanding anything contained in these regulations, schedules thereto or circulars made thereunder: (i) clauses (a) and (b) of sub-regulation (1) of Regulation 14; (ii) clauses (a) and (b) of sub-regulation (2) of Regulation 14; (iii) sub-regulations (1A), (2), (2A), (4A) and (5) of Regulation 15; (iv) first proviso to sub-regulation (3) of Regulation 16; (v) clause (b) of sub-regulation (1) of Regulation 16; (vi) clause (a) of sub-regulation (2) of Regulation 16; (vii) sub-regulation (4) of Regulation 16; (viii) sub-regulation (1) of Regulation 16B; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time. For and on behalf of _____________________________________________________________________ (Name of Applicant) ____________________ Director 1/ Designated Partner 1 __________________________ Director 2/ Designated Partner 2 ____________________ __________________________ Name in Block Letters Date: Place: Name in Block Letters Date: Place: 2. Declaration by an applicant who intends to act as a portfolio manager to eligible investment funds (must be signed by two directors or designated partners, as the case may be) We hereby declare that we are applying to SEBI to be registered as a portfolio manager. We intend to provide our services to eligible investment funds. In this regards, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Regulations, 1993 were issued under S.O. No. SEBI/LE/93/III dated January 7, 1993 published in the Gazette of India, Part II, Section 3(ii) dated January 7, 1993. 2. The Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993, were subsequently amended on: a. November 28, 1993 by, SEBI (Portfolio Managers) (Amendment) Regulations, 1993 published in the Official Gazette vide S.O. No. 939(E). b. November 28, 1995 by SEBI (Payment of Fees) (Amendment) Regulations, 1995 vide S.O No.939 (E). c. January 05, 1998 by SEBI (Portfolio Managers) (Amendment) Regulations, 1998 published in the Official Gazette vide S.O.No. 20 (E). d. September 30, 1999 by SEBI (Portfolio Managers) (Amendment) Regulations, 1999 publ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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