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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Regulation 7 details certification process for foreign investors, including fee exemptions for select institutions like the World Bank.</h1> Regulation 7 of the Securities and Exchange Board of India (Foreign Institutional Investors) Regulations, 1995, outlines the procedure for granting a certificate to foreign institutional investors. The Board must issue the certificate within three months after receiving all required information, provided the application is complete and the applicant is eligible. The certificate is granted upon payment of fees as per the Second Schedule. However, certain institutions like the World Bank, which are exempt from taxes and duties by the Central Government, may be exempt from these fees. Any fees collected from such exempted institutions will be refunded.
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