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    <description>The amendment substitutes regulation 7(1)(a) to set out acceptable professional qualifications for investment advisers: a professional qualification or postgraduate degree or postgraduate diploma (minimum two years) in specified fields from a university or institution recognised by central or state government or a recognised foreign university or institution or association; completion of a Post Graduate Program in the Securities Market (Investment Advisory) from NISM of duration not less than one year; or attainment of the CFA Charter from the CFA Institute. The Regulations take effect on publication in the Official Gazette.</description>
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