Securities And Exchange Board Of India - Subsection
Section 15A(5) in Securities And Exchange Board Of India (Foreign Institutional Investors) Regulations, 1995
(5)Where the total value of offshore derivative instruments issued against securities held by a foreign institutional investor or a sub-account as on the thirtieth day of September 2007 is less than forty per cent of its assets under custody as on that date, further issuance of offshore derivative instruments in any period of twelve months shall not exceed five per cent. of the total value of its assets under custody:Provided that such further issuance shall not result in the total value of offshore derivative instruments exceeding forty per cent of the assets under custody.
