Section 10 in Securities And Exchange Board Of India (Foreign Institutional Investors) Regulations, 1995
10. Conditions for grant [* * *] [Omitted by Notification No. F.No. LAD-NRO/GN/2008/10/126204, dated 22.5.2008] of certificate to Foreign Institutional Investors.-
The grant [* * *] [Omitted by Notification No. F.No. LAD-NRO/GN/2008/10/126204, dated 22.5.2008] of certificate to the Foreign Institutional Investor shall be subject to the following conditions namely:(a)he shall abide by the provisions of these regulations;(b)if any information or particulars previously submitted to the Board are found to be false or misleading, in any material respect, he shall forthwith inform the Board in writing;(c)if there is any material change in the information previously furnished by him to the Board, which has a bearing on the certificate granted by the Board, he shall forthwith inform the Board;(d)he shall appoint a domestic custodian and before making any investments in India, enter into an agreement with the domestic custodian providing for custodial services in respect of securities;(e)he shall, before making any investments in India, enter into an arrangement with a designated bank for the purpose of operating a special non-resident rupee or foreign currency account;(f)before making any investments in India on behalf of a subaccount, if any, he shall obtain registration of such sub-account, under these regulations.
