Eligible fund managers exemption limits application of specified portfolio manager requirements, relieving them from listed regulatory provisions. Regulation 20 exempts eligible fund managers, when acting as portfolio managers to eligible investment funds, from a specified list of sub regulations, one regulation, parts of regulation clauses, Form C in Schedule I and a Schedule named in the clause; the exemption applies notwithstanding other provisions of the Regulations, their Schedules or circulars. A subsequent note records that the Schedule reference in clause (xi) was substituted by a later SEBI communication.