Category I foreign portfolio investor inclusion expands eligibility and exempts regulated broad based FPI funds from certain mutual fund requirements. Amendments add Category I foreign portfolio investors to regulation 24(b) and provide that requirements of that clause will not apply where funds managed are of Category I and/or Category II foreign portfolio investors that are appropriately regulated, broad based funds; the Explanation is adjusted to exclude the proviso to clause (vi) of the first proviso to clause (b).
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Provisions expressly mentioned in the judgment/order text.
Category I foreign portfolio investor inclusion expands eligibility and exempts regulated broad based FPI funds from certain mutual fund requirements.
Amendments add Category I foreign portfolio investors to regulation 24(b) and provide that requirements of that clause will not apply where funds managed are of Category I and/or Category II foreign portfolio investors that are appropriately regulated, broad based funds; the Explanation is adjusted to exclude the proviso to clause (vi) of the first proviso to clause (b).
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