Foreign investor categories expanded; new institutional and governmental entities eligible, mandatory Form AA for sub-accounts and updated application forms. Amendments broaden eligible foreign investor categories to include pension funds, mutual funds, investment trusts, insurance/reinsurance companies, international or multilateral organisations, foreign governmental agencies and foreign central banks, and clarify that asset managers, investment managers/advisors, nominee companies, banks and institutional portfolio managers may invest on behalf of broad-based and proprietary funds. The rules require sub-account registration using Form AA, joint undertakings between applicants and sponsoring FIIs as per Form AA, and replace Form A and Form AA with comprehensive application templates setting out identity, regulatory, custodian and bank details, fund particulars, disclosures, and undertakings.