MAPIN registration requirement for foreign institutional investors clarified; Form B modified and documentation eased, and fee payment consolidated. FIIs and their sub-accounts must obtain a Unique Identification Number under the MAPIN regime; SEBI issued a revised Form B and clarifications expanding acceptable proof of address to include SEBI application and approval letters (or SEBI custodian-change letters), specified that Part B need not include net-worth for FIIs/sub-accounts, required relationship entries and notarized power of attorney for authorised representatives in Part C, noted that GDR/FDI investors are not specified investors, and allowed custodians to remit registration fees by consolidated demand draft.
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MAPIN registration requirement for foreign institutional investors clarified; Form B modified and documentation eased, and fee payment consolidated.
FIIs and their sub-accounts must obtain a Unique Identification Number under the MAPIN regime; SEBI issued a revised Form B and clarifications expanding acceptable proof of address to include SEBI application and approval letters (or SEBI custodian-change letters), specified that Part B need not include net-worth for FIIs/sub-accounts, required relationship entries and notarized power of attorney for authorised representatives in Part C, noted that GDR/FDI investors are not specified investors, and allowed custodians to remit registration fees by consolidated demand draft.
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