Security receipts: FII investment permitted with specified exceptions; registration term shortened and fees revised. The amendment reduces FII registration validity from five years to three years and expressly permits investment in security receipts with specified exceptions: regulatory conditions in sub regulation (2) do not apply to investments in security receipts issued by securitisation or asset reconstruction companies under the relevant Act, FIIs may not invest in security receipts on behalf of sub accounts, and purchases or sales of security receipts are excluded from clause (c); statutory definitions from the Securitisation and Reconstruction Act are adopted. The Second Schedule fee entries are increased.