Registration criteria for foreign institutional investors: factors and eligibility conditions govern grant of certificate and market development. Regulation 6 requires SEBI to consider matters relevant to granting an FII certificate, notably the applicant's track record, competence, financial soundness, regulation by foreign authorities, prior foreign exchange permission, and eligibility as specified categories (pension funds, mutual funds, insurers, sovereign wealth funds, asset managers acting for broad based funds, trustees, and university or charitable funds). The Board must also assess public interest, the interest of securities market development, and whether the applicant is a fit and proper person. 'Broad based fund' is defined by investor diversity and concentration limits with specified exceptions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Registration criteria for foreign institutional investors: factors and eligibility conditions govern grant of certificate and market development.
Regulation 6 requires SEBI to consider matters relevant to granting an FII certificate, notably the applicant's track record, competence, financial soundness, regulation by foreign authorities, prior foreign exchange permission, and eligibility as specified categories (pension funds, mutual funds, insurers, sovereign wealth funds, asset managers acting for broad based funds, trustees, and university or charitable funds). The Board must also assess public interest, the interest of securities market development, and whether the applicant is a fit and proper person. "Broad based fund" is defined by investor diversity and concentration limits with specified exceptions.
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