Dematerialization requirement mandates FIIs settle trades only in dematerialised securities, with a connectivity-based exception. A Foreign Institutional Investor or a sub-account shall, subject to Board instructions, deliver or cause to be delivered only securities in dematerialised form for settlement of its transactions on a recognised stock exchange, except where the issuer of such securities has not established connectivity with all depositories registered with the Board under the Depositories and Participants Regulations.
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Provisions expressly mentioned in the judgment/order text.
Dematerialization requirement mandates FIIs settle trades only in dematerialised securities, with a connectivity-based exception.
A Foreign Institutional Investor or a sub-account shall, subject to Board instructions, deliver or cause to be delivered only securities in dematerialised form for settlement of its transactions on a recognised stock exchange, except where the issuer of such securities has not established connectivity with all depositories registered with the Board under the Depositories and Participants Regulations.
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