Offshore derivative issuance eligibility limited to eligible subscribers meeting regulator signatory and AML criteria; non compliant ODIs barred from renewal. FPIs may issue ODIs only to subscribers who satisfy FPI eligibility criteria, including regulator MoU membership, BIS membership for banks, and exclusion of FATF identified jurisdictions, and only to subscribers without opaque structures. Investment restrictions applicable to FPIs apply to ODI subscribers, with aggregation of holdings where common beneficial ownership exists and where investors hold both FPI and ODI positions. FPIs must implement systems to ensure compliance; existing non compliant ODI positions may continue until expiry but cannot be renewed, and fresh issuance is permitted only to eligible subscribers complying with regulatory norms.
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.
Offshore derivative issuance eligibility limited to eligible subscribers meeting regulator signatory and AML criteria; non compliant ODIs barred from renewal.
FPIs may issue ODIs only to subscribers who satisfy FPI eligibility criteria, including regulator MoU membership, BIS membership for banks, and exclusion of FATF identified jurisdictions, and only to subscribers without opaque structures. Investment restrictions applicable to FPIs apply to ODI subscribers, with aggregation of holdings where common beneficial ownership exists and where investors hold both FPI and ODI positions. FPIs must implement systems to ensure compliance; existing non compliant ODI positions may continue until expiry but cannot be renewed, and fresh issuance is permitted only to eligible subscribers complying with regulatory norms.
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