Offshore derivative instrument limits: issuance restricted to regulated persons and cancellation required; sub-accounts barred from issuing them. The amendment defines a 'sub-account' and aligns undefined terms to other statutes; makes registration certificates permanent unless suspended or cancelled; requires FIIs and sub-accounts with deemed permanent certificates to file specified forms and allows surrender subject to conditions; expands eligible applicant categories (including university funds and Sovereign Wealth Funds) and permits an investment manager's track record for new funds with disclosure of disciplinary history; imposes FII liability for all acts of sub-accounts and KYC obligations before admitting foreign corporate sub-accounts; tightens offshore derivative instrument rules by restricting issuance to regulated persons after KYC, barring sub-accounts from issuing ODIs, mandating closure of certain outstanding ODIs, imposing quantitative ceilings linked to assets under custody, and updating forms and fee schedules.