Securities And Exchange Board Of India - Subsection
Section 15A(6) in Securities And Exchange Board Of India (Foreign Institutional Investors) Regulations, 1995
(6)On and from the commencement of the Securities and Exchange Board of India (Foreign Institutional Investor) (Amendment) Regulations, 2008, no sub-account shall, directly or indirectly, issue offer derivative instruments:-Provided that offshore derivative instruments issued directly or indirectly by a sub-account, before such commencement and outstanding as to such commencement shall be cancelled or redeemed or closed out before the thirty-first day of March, 2009.
