Foreign Exchange Management (Transfer or Issue of Security by a person Resident outside India) (First Amendment) Regulations, 2004 - 108/2004 - Foreign Exchange Management
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Foreign institutional investor portfolio investment: registered FIIs may buy shares/convertible debentures with specified account and funding rules. Registered FIIs may purchase shares and convertible debentures under the Portfolio Investment Scheme through registered brokers on recognised Indian stock exchanges. FIIs may open Foreign Currency Accounts and/or Special Non Resident Rupee Accounts for routing transaction receipts and payments, funded by inward remittance or net sale proceeds, with funds usable for purchases under the Scheme or for remittance abroad and transferable between the two account types. Domestic asset managers or portfolio managers registered as FIIs for sub accounts may invest on behalf of non resident individuals and foreign corporates using funds brought from outside India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign institutional investor portfolio investment: registered FIIs may buy shares/convertible debentures with specified account and funding rules.
Registered FIIs may purchase shares and convertible debentures under the Portfolio Investment Scheme through registered brokers on recognised Indian stock exchanges. FIIs may open Foreign Currency Accounts and/or Special Non Resident Rupee Accounts for routing transaction receipts and payments, funded by inward remittance or net sale proceeds, with funds usable for purchases under the Scheme or for remittance abroad and transferable between the two account types. Domestic asset managers or portfolio managers registered as FIIs for sub accounts may invest on behalf of non resident individuals and foreign corporates using funds brought from outside India.
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