Securities And Exchange Board Of India - Subsection
Section 47(3) in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014
(3)Notwithstanding such repeal and rescission:(a)anything done or any action taken or purported to have been done or taken, including suspension or cancellation of certificate of registration, any inquiry or investigation commenced or show cause notice issued under the repealed regulations, shall be deemed to have been done or taken under the corresponding provisions of these regulations;(b)any application for grant of certificate as a foreign institutional investor or sub-account pending before the Board shall be dealt with in accordance with the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995;(c)the Board may continue to grant certificate of registration as a foreign institutional inventor or sub-account under the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995 till March 31, 2014 which may be extended upto June 30, 2014 by the Board;(d)any offshore derivative instrument issued in accordance with the provisions of the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995 shall be deemed to have been issued in accordance with the corresponding provisions of these regulations.
