Securities And Exchange Board Of India - Subsection
Section 15(2A) in Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993
(2A)[ The portfolio manager shall keep the funds of all clients in a separate account to be maintained by it in a Scheduled Commercial Bank.Explanation. - For the purposes of this sub-regulation, the expression 'Scheduled Commercial Bank' means any bank included in the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934).] [Inserted by the SEBI (Portfolio Managers) (Amendment) Regulations, 2002, w.e.f. 11-10-2002.]
