Participation limit in foreign investment funds now measured on fixed semiannual dates, with cure window and extended IFSC commencement deadline. Section 9A is amended to require that the aggregate participation or investment in an eligible investment fund by persons resident in India be measured against the corpus as on the first day of April and the first day of October of the previous year, with a four-month cure period where the participation exceeds the threshold on those dates. Sub-section (8A) is amended to extend the commencement deadline for eligible fund managers in an International Financial Services Centre and to preclude relaxation of clause (c).
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Provisions expressly mentioned in the judgment/order text.
Participation limit in foreign investment funds now measured on fixed semiannual dates, with cure window and extended IFSC commencement deadline.
Section 9A is amended to require that the aggregate participation or investment in an eligible investment fund by persons resident in India be measured against the corpus as on the first day of April and the first day of October of the previous year, with a four-month cure period where the participation exceeds the threshold on those dates. Sub-section (8A) is amended to extend the commencement deadline for eligible fund managers in an International Financial Services Centre and to preclude relaxation of clause (c).
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