Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2019

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....Securities and Exchange Board of India (Portfolio Managers) (Amendment) Regulations, 2019. 2. They shall come into force on the date of their publication in the Official Gazette. 3. In the Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993, - I. in regulation 2, - i. for clause (af), the following clauses shall be substituted, namely,- "(af) "custodian" means a person who has been granted a certificate of registration to carry on the business of custodian under the Securities and Exchange Board of India (Custodian) Regulations, 1996; (ag) "discretionary portfolio manager" means a portfolio manager who exercises or may exercise, under a contract relating to portfolio management, ....

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....er sub-regulation (2), following sub-regulation shall be inserted, namely,- "(3) Every Portfolio Manager who deals in commodity derivatives shall appoint a custodian." IV. in regulation 21, in sub-regulation (1), in clause (a), - a. after the word "of security" and before the word and symbol ", number", the words "and goods" shall be inserted; b. after the word "in the portfolio" and before the word and symbol ", cash", the words and symbol ", units of goods, value of goods" shall be inserted; [ADVT.-III/4/Exty./42/19] AJAY TYAGI, Chairman Footnote: 1. The Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993 were issued under S.O. No. SEBI/LE/93/III dated January 7, 1993 pub....