Suspension and surrender of FPI registration: nonpayment with no positions deemed surrender, processed with Board approval.

Regulation 9 provides that FPI registration is permanent subject to compliance but may be suspended, cancelled or surrendered; suspension and cancellation follow Chapter V of the Intermediaries Regulations, 2008. Failure to pay required fees by the due date with no India positions is deemed an application for surrender, to be processed by the designated depository participant with Board approval. Payment of registration and late fees under regulation 7(6) counts as timely payment. A surrender request must be approved by the Board and the DDP may impose conditions on acceptance.

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