(2)The income by way of interest referred to in sub-section (1) shall be the interest payable on or after the 1st day of June, 2013 but before the 1st day of June, 2015 in respect of investment made by the payee in-(i)a rupee denominated bond of an Indian company; or(ii)a Government security:Provided that the rate of interest in respect of bond referred to in clause (1) shall not exceed the rate as may be notified by the Central Government in this behalf.Explanation. - For the purpose of this section,-(a)"Foreign Institutional Investor" shall have the meaning assigned to it in clause (a) of the Explanation to section 115 AD;(b)"Government security" shall have the meaning assigned to it in clause (.b) of section 2 of the Securities Contracts (Regulation) Act, 1956; (42 of 1956)(c)"Qualified Foreign Investor" shall have the meaning assigned to it in the Circular No. Cir/IMD/DF/14/2011, dated the 9th August, 2011, as amended from time to time, issued by the Securities and Exchange Board of India, under section 11 of the Securities and Exchange Board of India Act, 1992.' (15 of 1992).
