Foreign portfolio investor fees and registration requirements are revised through updated rupee equivalents, remittance rules, and form disclosures. The Foreign Portfolio Investors regulatory framework is amended to revise registration-related fee provisions, payment mechanics, and form requirements. The amendment omits the reference to the fee specified in Part A of the Second Schedule from regulation 3(2), replaces specified fee amounts with rupee equivalents in eligible foreign exchange equivalent under the Second Schedule and regulation 43B(2), and changes the timing language so that certain fees are payable prior to the grant of registration certificate rather than at the time of submission of the form. A new entry is inserted in the First Schedule requiring specified identification and formation details, and the fee remittance framework for designated depository participants is restated.
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Foreign portfolio investor fees and registration requirements are revised through updated rupee equivalents, remittance rules, and form disclosures.
The Foreign Portfolio Investors regulatory framework is amended to revise registration-related fee provisions, payment mechanics, and form requirements. The amendment omits the reference to the fee specified in Part A of the Second Schedule from regulation 3(2), replaces specified fee amounts with rupee equivalents in eligible foreign exchange equivalent under the Second Schedule and regulation 43B(2), and changes the timing language so that certain fees are payable prior to the grant of registration certificate rather than at the time of submission of the form. A new entry is inserted in the First Schedule requiring specified identification and formation details, and the fee remittance framework for designated depository participants is restated.
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