Securities And Exchange Board Of India - Subsection
Section 15(2) in Securities And Exchange Board Of India (Foreign Institutional Investors) Regulations, 1995
(2)Notwithstanding anything contained in sub-regulation (1) of this regulation, the total investments in equity and equity related instruments (including fully convertible debentures, convertible portion of partially convertible debentures and tradable warrants) made by a Foreign Institutional Investor in India, whether on his own account or on account of his sub-accounts, shall not be less than seventy per cent of the aggregate of all the investments of the Foreign Institutional Investor in India, made on his own account and on account of his sub-accounts.[Explanation:- [Inserted by S.O. 105(E), dated 12.2.1997 ] For the purposes of the provisos to this sub-regulation, the expression "debt securities" shall include dated Government securities, commercial paper, and treasury bills].Provided further that the conditions mentioned in sub-regulation (2) shall not apply to investiments made by foreign institutional investors in security receipts issued by securitisation companies or asset reconstruction companies under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and the rules made thereunder:Provided further that no foreign institutional investor shall invest in security receipts on behalf of its sub-account."[Provided further that a corporate or individual shall not be eligible to invest through the hundred per cent, debt route.] [Inserted by S.O. 180(E), dated 29.2.2000]
