Securities And Exchange Board Of India - Subsection
Section 23(1) in Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014
(1)The foreign portfolio investor shall-(a)comply with the provisions of these regulations, as far as they may apply, circulars issued thereunder and any other terms and conditions specified by the Board from time to time;(b)forthwith inform the Board and designated depository participant in writing, if any information or particulars previously submitted to the Board or designated depository participant are found to be false or misleading, in any material respect;(c)forthwith inform the Board and designated depository participant in writing, if there is any material change in the information [including any direct or indirect change in its structure or ownership or control,] [Inserted by Notification No. SEBI/LAD-NRO/GN/2018/58, dated 31.12.2018 (w.e.f. 7.1.2014).] previously furnished by him to the Board or designated depository participant;(d)as and when required by the Board or any other government agency in India, submit any information, record or documents in relation to its activities as a foreign portfolio investor;(e)forthwith inform the Board and the designated depository participant, in case of any penalty, pending litigations or proceedings, findings of inspections or investigations for which action may have been taken or is in the process of being taken by an overseas regulator against it;(f)obtain a Permanent Account Number from the Income Tax Department;(g)in relation to its activities as foreign portfolio investor, at all times, subject itself to the extant Indian laws, rules, regulations and circulars issued from time to time and provide an express undertaking to this effect to the designated depository participant;(h)[ be a fit and proper person based on the criteria specified in Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008;] [Inserted by Notification No.SEBI/LAD-NRO/GN/2018/05, dated 5.4.2018 (w.e.f. 7.1.2014).](i)[] [Renumbered 'h' by Notification No.SEBI/LAD-NRO/GN/2018/05, dated 5.4.2018 (w.e.f. 7.1.2014).] provide such declarations and undertakings as required by the designated depository participant; and(j)[ provide any additional information or documents including beneficiary ownership details of their clients as may be required by the designated depository participant or the Board or any other enforcement agency to ensure compliance with the Prevention of Money Laundering Act, 2002 and the rules and regulations prescribed thereunder, the Financial Action Task Force standards and circulars issued from time to time by the Board.] [Substituted by Notification No.SEBI/LAD-NRO/GN/2018/05, dated 5.4.2018 (w.e.f. 7.1.2014).]
