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TMI BlogSecurities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2022X X X X Extracts X X X X X X X X Extracts X X X X ..... eby makes the following regulations to further amend the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 , namely:- 1. These Regulations may be called the Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2022. 2. They shall come into force on the thirtieth day from the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020 , - I. after clause (p) of sub-regulation (1) of regulation 2 , the following clause shall be inserted, namely,- (pa) related party in relation to a portfolio manager, means- (i) a director, partner or his relative; (ii) a key managerial perso ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her person as may be specified by the Board: Provided that, (a) any person or entity forming a part of the promoter or promoter group of the listed entity; or (b) any person or any entity, holding equity shares: (i) of twenty per cent or more; or (ii) of ten per cent or more, with effect from April 1, 2023; in the listed entity either directly or on a beneficial interest basis as provided under section 89 of the Companies Act, 2013, at any time, during the immediate preceding financial year; shall be deemed to be a related party; II. in regulation 22 , i. after sub-regulation (1), the following sub-regulation shall be inserted, namely,- (1A) The portfolio manager may make investments in the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ─ For the purposes of sub-regulation (3C), the term associate shall mean (i) a body corporate in which a director or partner of the portfolio manager holds, either individually or collectively, more than twenty percent of its paid-up equity share capital or partnership interest, as the case may be; or (ii) a body corporate which holds, either individually or collectively, more than twenty percent of the paid-up equity share capital or partnership interest , as the case may be of the portfolio manager. (3D) The portfolio manager shall put in place an alert based system to monitor compliance with the prudential limits on investments. (3E) The portfolio manager shall ensure investment of its clients funds on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ations, 2020 vide No. SEBI/LAD-NRO/GN/2020/10. b. 16th March, 2021 by the Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/10. c. 26th April, 2021 by the Securities and Exchange Board of India (Portfolio Managers) (Second Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/16. d. 3rd August, 2021 by the Securities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/30. e. 3rd August, 2021 by the Securities and Exchange Board of India (Portfolio Managers) (Third Amendment) Regulations, 2021 vide No. SEBI/LAD-NRO/GN/2021/31 f. 9th November, 2021 by the Securities and Exchange Board of India (Por ..... X X X X Extracts X X X X X X X X Extracts X X X X
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