On 3-6-2024, the Securities and Exchange Board of India notified the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2024 to amend the . The provisions came into force on 3-6-2024.
Key Points:
Regulation 7 talks about the “Certificate of Registration” and the following provisions have been revised:
Provision relating to Foreign Portfolio Investor (‘FPI’) holding securities or derivatives in India whose certificate of registration is not valid on 3-6-2024 and is holding securities or derivatives in India will be allowed to sell such securities or wind up their open position in derivatives within 360 days from 3-6-2024.
The registration fees, mentioned in Part A of the Second Schedule, has to be paid by the FPI for every block of 3 years, before beginning of such block.
FPI investor whose certificate of registration is not valid and has not sold off the securities or wound up their open position in derivatives in India as per the provisions of these regulations will be deemed to have written off the securities.
The late fees payable, wherever applicable, by FPI will be US $ 50 per day for Category I and US $5 per day for Category-II.
The post appeared first on .