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    <title>Procedure to be followed by an existing Portfolio Manager</title>
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    <description>An existing portfolio manager may act for an eligible fund manager only if it satisfies the tax-related eligibility criteria under the Income-tax Act and, prior to undertaking the activity, intimates the Board and submits the prescribed declarations specified in Schedule VI. The provision therefore requires both compliance with tax-eligibility conditions and fulfillment of procedural filing and declaration obligations before acting as portfolio manager to an eligible fund manager.</description>
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      <description>An existing portfolio manager may act for an eligible fund manager only if it satisfies the tax-related eligibility criteria under the Income-tax Act and, prior to undertaking the activity, intimates the Board and submits the prescribed declarations specified in Schedule VI. The provision therefore requires both compliance with tax-eligibility conditions and fulfillment of procedural filing and declaration obligations before acting as portfolio manager to an eligible fund manager.</description>
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